Adama Company incurred the following costs. 1. Sales tax on factory machinery purchased 2. Painting...
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Adama Company incurred the following costs. 1. Sales tax on factory machinery purchased 2. Painting of and lettering on truck immediately upon purchase 3. Installation and testing of factory machinery 4. Real estate broker's commission on land purchased 5. Insurance premium paid for first year's insurance on new truck 6. Cost of landscaping on property purchased 7. Cost of paving parking lot for new building constructed 8. Cost of clearing, draining, and filling land 9. Architect's fees on self-constructed building S 5,000 700 2,000 3,500 880 7,200 17,900 13,300 10,000 CHAPTER 9 Page 37 pare Journal Entries for Intangibles: Calculate Amortization GENERAL JOURNAL Date (a) 2017 Jan. 2 Account Titles bebit Credit July 1 Sept. 1 (b) 2017 Dec. 31 Check figure: Total debits $1,091,000 December 31, 2017 balances (net of accumulated amortization for patent & franchise): Goodwill Patent Franchise (e)
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