In 2018, Bratten Fitness Company made the following cash purchases:
A) The exclusive right to manufacture and sell the X-Core workout machine from Symmetry Corporation for $203,000. Symmetry created the unique design for the machine. Bratten also paid an additional $11,500 in legal and filing fees to attorneys to complete the transaction.
B) An initial fee of $260,000 for a three-year agreement with Silver’s Gym to use its name for a new facility in the local area. Silver’s Gym has locations throughout the country. Bratten is required to pay an additional fee of $5,300 for each month it operates under the Silver’s Gym name, with payments beginning in March 2018. Bratten also purchased $403,000 of exercise equipment to be placed in the new facility.
C) The exclusive right to sell Healthy Choice, a book authored by Kent Patterson, for $22,000. The book includes healthy recipes, recommendations for dietary supplements, and natural remedies. Bratten plans to display the book at the check-in counter at its new facility, as well as make it available online.
Required:
Prepare a summary journal entry to record expenditures related to initial acquisitions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Date           Particular                                         DR                          CR

a.               Patent                                               $214,500

                  Cash                                                                            214,500

          Being total payment for the exclusive right

to produce X-core machine

b.              Brand name                                        260,000

               Exercise Equipment                             403,000

                 cash                                                                       663,000

Being the payment for the brand name of Silver Gym

and exercise equipment  

c.            Copyright                                                  22,000

               Cash                                                                          22,000

Being the payment for the exclusive right to sell Healthy book

Explanation:

there is no journal enrty for the amount to be paid to Silver Gym on a monthly basis when the sales begin because the money has not been paid.

answer; i do believe that the correct answer is ; ///are valued more highly than their cost;

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20