These are selected 2022 transactions for flounder corporation: jan. 1 purchased a copyright for $96,000. the copyright has a useful life of 6 years and a remaining legal life of 30 years. mar. 1 purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $39,000. sept. 1 purchased a small company and recorded goodwill of $126,000. its useful life is indefinite.
prepare all adjusting entries at december 31 to record amortization required by the events.
(credit account titles are autom entered. do not indent manually. if no entry is required, select "no entry" for the account titles and enter 0 for the
date account titles and explanation debit credit
dec. 31 |amortization expense 16000
16000
(to record amortization of copyrights)
dec. 31 amortization expense
(to record amortization of patents)
dec. 31 (to record amortization of goodwill)

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

At april 1, 2019, the food and drug administration is in the process of investigating allegations of false marketing claims by hulkly muscle supplements. the fda has not yet proposed a penalty assessment. hulkly’s fiscal year ends on december 31, 2018. the company’s financial statements are issued in april 2019. required: for each of the following scenarios, determine the appropriate way to report the situation. 1. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 2. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is probable. 3. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 4. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is probable.

What is the relationship among market segmentation, target markts, and consumer profiles?