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Journal Entry Worksheet: "Record the expenditures relatsd to initsl acquisitions" Exercise 10-5...

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Accounting

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Journal Entry Worksheet: "Record the expenditures relatsd to initsl acquisitions"
Exercise 10-5 (Algo) Intangibles (L010-1) In 2021. Bratten Fitness Company made the following cash purchases: 1. The exclusive right to manufacture and sell the X-Core workout equipment from Symmetry Corporation for $201,000. Symmetry created the unique design for the equipment. Bratten also paid an additional $10,500 in legal and filing fees to attorneys to complete the transaction 2. An initial fee of $250,000 for a three-year agreement with Silver's Gym to use its name for a new facility in the local area, Silver's Gym has locations throughout the country. Bratten is required to pay an additional fee of $5,100 for each month it operates under the Silver's Gym name, with payments beginning in March 2021. Bratten also purchased $401,000 of exercise equipment to be placed in the new facility 3. The exclusive right to sell Healthy Choice, a book authored by Kent Patterson, for $20,000. The book includes healthy recipes, recommendations for dietary supplements, and natural remedies, Bratten plans to display the book at the check-in counter at its new facility, as well as make it available online

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