Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 53

Team up with one or more classmates for this activity. Identify companies in your community or area that must account for at least one of the following assets: natural resource; patent; lease; leasehold improvement; copyright; trademark; or goodwill. You might find a company having more than one type of asset. Once you identify a company with a specific asset, describe the accounting this company uses to allocate the cost of that asset to the periods benefited from its use.