ACCOUNTING-Ceda Co. has equipment that cost $79,870 and that has been depreciated $49, 830.

Ceda Co. has equipment that cost $79,870 and that has been depreciated $49, 830. record the disposal under the following assumptions.(a) It was scrapped as having no value.(b) It was sold for $ 23,860.(c) It was sold for $33,820.The intangible assets section of Sappelt Company at December 31, 2014, is presented below.Patents ($65,100 cost less $6,510 amortization)$58,590Franchises ($35,500 cost less $14,200 amortization)21,300Total$79,890The patent was acquired in January 2014 and has a useful life of 10 years. The franchise was acquired in January 2011 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2015.Jan 2paid $34,920 legal costs to successful defend the patent against infringement by another companyJan-JuneDeveloped a new product, incurring $140,620 in research and development costs. A patent was granted for the product on July 1. It is useful life is equal to its legal life.Sept 1Paid $50,240 to an extremely large defensive lineman to appear in commercials advertising the company’s products. The commercials will air in September and October.Oct 1Acquired a franchise for $150,000. The franchise has a useful life of 50 years.*** prepare Journal entries to record the transactions above!!!****Prepare Journal entries to record the 2015 amortization expense!!!(Dec 31: To record patents amortization) and Dec 31( To record franchise amortization)

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