Yu Corporation
Use the following Assets section of Yu Corporation's balance sheets for the years ended December 31,2013 and 2012 to answer the questions that follow.
Yu Corporation recorded depreciation expense of $344 million for 2012.
Refer to the information for Yu Corporation.
Required:
(1)Which items on Yu's balance sheet could be considered intangible assets? Explain the nature of each of these.
(2)Explain why it is important that Yu disclose the amounts expended on research and development each year.

Question

Yu Corporation
Use the following Assets section of Yu Corporation's balance sheets for the years ended December 31,2013 and 2012 to answer the questions that follow.
  Yu Corporation recorded depreciation expense of $344 million for 2012.
Refer to the information for Yu Corporation.
Required:
(1)Which items on Yu's balance sheet could be considered intangible assets? Explain the nature of each of these.
(2)Explain why it is important that Yu disclose the amounts expended on research and development each year.

Quizplus · Accepted Answer

The Answer of Yu Corporation
Use the following Assets section of Yu Corporation's balance sheets for the years ended December 31,2013 and 2012 to answer the questions that follow.
  Yu Corporation recorded depreciation expense of $344 million for 2012.
Refer to the information for Yu Corporation.
Required:
(1)Which items on Yu's balance sheet could be considered intangible assets? Explain the nature of each of these.
(2)Explain why it is important that Yu disclose the amounts expended on research and development each year.

Yu Corporation Use the Following Assets Section of Yu Corporation's Balance Sheets