Chapter 12 Solutions

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CHAPTER 12
Intangible Assets
ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)
Topics

Questions

1.

Intangible assets;
concepts, definitions;
items comprising
intangible assets.

1, 2, 3, 4, 5, 6,
7, 8, 9, 10, 11,
12, 13, 14

2.

Patents; franchise;
organization costs;
trade name.

9, 10, 13,
14, 25

3.

Goodwill.

4.
5.

Brief
Exercises

Exercises

Concepts
Problems for Analysis

1, 2, 3,
5, 6

1, 2, 3, 4

1, 2, 3

1, 2, 3, 4, 5,
7, 12, 13

4, 5, 6, 7,
8, 9, 10,
11, 13

1, 2, 3,
4, 6

1, 2

12, 13, 14, 18

6, 8

6, 12, 13,
15

5, 6

Impairment of
intangibles.

15, 16, 17, 18

7, 8, 9

14, 15

6

Research and
development costs
and similar costs.

19, 20, 21,
22, 23, 24

10, 11, 12

16, 17

1, 2, 3

*6. Computer software
costs.

26, 27, 28

14

18, 19

*This material is covered in an Appendix to the chapter.

12-1

4, 5

ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)
Brief
Exercises

Learning Objectives

Exercises

Problems

1.

Describe the characteristics of intangible assets.

2.

Identify the costs to include in the initial valuation
of intangible assets.

1, 2, 3, 5

5, 7, 9,
10, 11

1, 2, 3, 6

3.

Explain the procedure for amortizing intangible
assets.

1, 2, 3, 5,
12, 13

4, 5, 6, 7, 9,
10, 11, 13

1, 2, 3, 6

4.

List the types of intangible assets.

1, 2, 3

5.

Explain the conceptual issues related to goodwill.

12, 13

5

6.

Describe the accounting procedures for recording
goodwill.

6

12, 13, 15

5, 6

7.

Explain the accounting issues related to intangibleasset impairments.

7, 8, 9

14, 15

5, 6

8.

Identify the conceptual issues related to research
and development costs.

9.

Describe the accounting procedures for research
and development and similar costs.

4, 10, 11, 12

6, 8, 16, 17

4

Indicate the presentation of intangible assets
and related items.

13

4

4, 6

*11. Understand the accounting treatment for computer
software costs.

14

18, 19

10.

*This material is covered in an Appendix to the chapter.

12-2

1, 2, 3

5, 9

ASSIGNMENT CHARACTERISTICS TABLE
Item

Description

Level of
Difficulty

Time
(minutes)

E12-1
E12-2
E12-3
E12-4
E12-5
E12-6
E12-7
E12-8
E12-9
E12-10
E12-11
E12-12
E12-13
E12-14
E12-15
E12-16
E12-17
*E12-18
*E12-19

Classification issues—intangibles.
Classification issues—intangibles.
Classification issues—intangible asset.
Intangible amortization.
Correct intangible asset account.
Recording and amortization of intangibles.
Accounting for trade name.
Accounting for organization costs.
Accounting for patents, franchises, and R&D.
Accounting for patents.
Accounting for patents.
Accounting for goodwill.
Accounting for goodwill.
Copyright impairment.
Goodwill impairment.
Accounting for R&D costs.
Accounting for R&D costs.
Accounting for computer software costs.
Accounting for computer software costs.

Moderate
Simple
Moderate
Moderate
Moderate
Simple
Simple
Simple
Moderate
Moderate
Moderate
Moderate
Simple
Simple
Simple
Moderate
Moderate
Moderate
Moderate

15–20
10–15
10–15
15–20
15–20
15–20
10–15
10–15
15–20
20–25
15–20
20–25
10–15
15–20
15–20
15–20
10–15
10–15
15–20

P12-1
P12-2
P12-3
P12-4
P12-5
P12-6

Correct intangible asset account.
Accounting for patents.
Accounting for franchise, patents, and trade name.
Accounting for R&D costs.
Goodwill, impairment.
Comprehensive intangible assets.

Moderate
Moderate
Moderate
Moderate
Complex
Moderate

15–20
20–30
20–30
20–25
25–30
30–35

CA12-1
CA12-2
CA12-3
CA12-4
CA12-5
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