Ask Experts Questions for FREE Help !
Ask
    Maricelis's Avatar
    Maricelis Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 16, 2010, 06:22 PM
    Accounting question
    A patent was acquired for 450,000 at the beginning of the current year. How do I journalize this?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    May 17, 2010, 12:45 PM

    Debit Patent for the amount and Credit Cash for the amount
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Accounting question [ 5 Answers ]

Two companies are considering the buying of new equipment costing $200 000. The Frugal Company's Balance Sheet shows Accumulated Depreciation on Machinery & Equipment of $300 000 and the Spendthrift Company's Balance Sheet shows Accumulated Depreciation on Machinery & Equipment of $100 000. From...

Accounting Question [ 1 Answers ]

I have to make a classified balance sheet for my homework assignment. I can get the current assets to equal $3,415, which is the correct total, but I can't get the total liabilities and stockholders equity to equal that. I don't know if Im not adding something into that section or what. Here's...

View more questions Search