UR Company purchased a customer database and a formula for a new fuel substitute for diesel fuel for a total of $100,000. UR Company uses the expected cash flow approach for estimating the fair value of these two intangibles. The appropriate interest rate is 5%. The potential future cash flows from the two intangibles, and their associated probabilities, are as follows:
Customer Database:
Formula:
Prepare the journal entry necessary to record the purchase of the two intangibles.
Definitions:
Dark-Skinned
Dark-skinned refers to having a high melanin content in the skin, which results in a darker skin tone.
Blond Hair
Hair color characterized by low levels of the dark pigment eumelanin, resulting in light shades of hair.
Stratum Spinosum
The stratum spinosum is a layer of the epidermis found between the stratum granulosum and stratum basale, characterized by its spiny appearance due to the desmosomes that join cells together.
Blood Vessels
Tubular structures in the circulatory system through which blood is transported throughout the body, including arteries, veins, and capillaries.
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