The Ripkin Corporation was organized and began to operate on January 1, 2014, to manufacture and sell children's clothes.

Total

$394,500

a.     Prepare an entry as of December 31, 2014, to reclassify the items from the goodwill account to the appropriate accounts.

b.     Prepare the adjusting entry or entries required to amortize the intangible assets using the straight-line method.  Calculate amortization to the nearest month.