Homework Answers
| 1 | |||
| Amortization | |||
| Technology | 19500 | =78000/4 | |
| Patent | 2000 | =30000/15 | |
| Trademark | 0 | ||
| 2 | |||
| Income Statement for 2019(Partial) | |||
| Operating expenses: | |||
| Amortization expense | 21500 | =19500+2000 | |
| 3 | |||
| Balance Sheet | |||
| December 31,2019(Partial) | |||
| Intangibles: | |||
| Technology | 39000 | =78000-(19500*2) | |
| Patent | 28000 | =30000-2000 | |
| Trademark | 23000 | ||
| 90000 | |||
| Note: Patents have a 20 year legal life. Remaining life = 20-5 = 15 years | |||
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Trotman Company had three intangible assets at the end of 2019 (end of the accounting year):...
Trotman Company had three intangible assets at the end of 2019 (end of the accounting year): a. Computer software and...
Trotman Company had three intangible assets at the end of 2019 (end of the accounting year): a. Computer software and website development technology purchased on January 1, 2018, for $78,000. The technology is expected to have a four-year useful life to the company with no residual value. b. A patent purchased from lan Zimmer on January 1, 2019, for a cash cost of $30,000. Zimmer had registered the patent with the U.S. Patent and Trademark Office five years ago. Trotman...
Saved Springer Company had three intangible assets at the end of 2020 (end of the accounting...
Saved Springer Company had three intangible assets at the end of 2020 (end of the accounting year) a. A copyright purchased on January 1, 2020, for a cash cost of $15,100. The copyright is expected to have a 10-year useful life to Springer. b. Goodwill of $71,000 from the purchase of the Hartford Company on July 1, 2019. C. A patent purchased on January 1, 2019, for $44,000. The inventor had registered the patent with the U.S. Patent and Trademark...
Springer Company had three intangible assets at the end of 2020 end of the accounting year...
Springer Company had three intangible assets at the end of 2020 end of the accounting year A copyright purchased on January 1, 2020, for a cash cost of $16100. The copyright is expected to have a 10-year useful life to Springer b Goodwill of $81,000 from the purchase of the Hartford Company on July 1, 2019, cA patent purchased on January 1, 2019. for $64,000. The inventor had registered the patent with the US Patent and Trademark Office on January...
Trotman Company nad theee intangible assets at the end of 2016 (end of the accounting year...
Trotman Company nad theee intangible assets at the end of 2016 (end of the accounting year a Computer sotware and web development technology purchased on Janusary 1, 2015, for $77,000. The technology s expected to have a tour-year useful lte to the company. b. A patent purchased from lan 2immer on January 1, 2016, for a cash cost of $9,000. Zimmer had registered the patent with the U.S Patent O Office five years ago k purchased for $26,000 on November...
3 Bluestone Company had three intangible assets at the end of the current year: a. A patent purch...
3 Bluestone Company had three intangible assets at the end of the current year: a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $2,700. When purchased, the patent had an estimated life of 9 years as much as $150,000 because it has an indefinite life life to the company b. A trademark was registered with the federal government for $5,500. Management estimated that the trademark could be worth 10 points C. Computer...
juny nou uirée intangible assets at the end of 2020 (end of the accounting year): A...
juny nou uirée intangible assets at the end of 2020 (end of the accounting year): A copyright purchased on January 1, 2020, for a cash cost of $15,100. The copyright is expected to have a 10-year useful life Springer. Goodwill of $71,000 from the purchase of the Hartford Company on July 1, 2019. A patent purchased on January 1, 2019, for $44,000. The inventor had registered the patent with the U.S. Patent and Tradem Office on January 1, 2015. Springer...
Bluestone Company had three intangible assets at the end of the current year: A patent purchased...
Bluestone Company had three
intangible assets at the end of the current year: A patent
purchased this year from Miller Co. on January 1 for a cash cost of
$7,500. When purchased, the patent had an estimated life of 15
years. A trademark was registered with the federal government for
$6,500. Management estimated that the trademark could be worth as
much as $170,000 because it has an indefinite life. Computer
licensing rights were purchased this year on January 1 for...
Kreiser Company had three intangible assets at the end of 2017 (end of the accounting year):...
Kreiser Company had three intangible assets at the end of 2017 (end of the accounting year): a. A patent was purchased from J. Miller on January 1, 2017, for a cash cost of $5,640. When purchased, the patent had an estimated life of fifteen years. b. A trademark was registered with the federal government for $10,000. Management estimated that the trademark could be worth as much as $200,000 because it has an indefinite life. c. On January 1, 2017, computer...
Required 1-3 Please! Bluestone Company had three intangible assets at the end of the current year:...
Required 1-3 Please!
Bluestone Company had three intangible assets at the end of the current year: a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $5,600. When purchased, the patent had an estimated life of 8 years. b. A trademark was registered with the federal government for $12,500. Management estimated that the trademark could be worth as much as $290,000 because it has an indefinite life. c. Computer licensing rights were purchased...
Bluestone Company had three intangible assets at the end of the current year: a. A patent...
Bluestone Company had three intangible assets at the end of the current year: a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $6,000. When purchased, the patent had an estimated life of 10 years. b. A trademark was registered with the federal government for $45,000. Management estimated that the trademark could be worth as much as $130,000 because it has an indefinite life. c. Computer licensing rights were purchased this year on...
Trotman Company had three intangible assets at the end of 2019 (end of the accounting year): a. Computer software and website development technology purchased on January 1, 2018, for $78,000. The technology is expected to have a four-year useful life to the company with no residual value. b. A patent purchased from lan Zimmer on January 1, 2019, for a cash cost of $30,000. Zimmer had registered the patent with the U.S. Patent and Trademark Office five years ago. Trotman...
Saved Springer Company had three intangible assets at the end of 2020 (end of the accounting year) a. A copyright purchased on January 1, 2020, for a cash cost of $15,100. The copyright is expected to have a 10-year useful life to Springer. b. Goodwill of $71,000 from the purchase of the Hartford Company on July 1, 2019. C. A patent purchased on January 1, 2019, for $44,000. The inventor had registered the patent with the U.S. Patent and Trademark...
Springer Company had three intangible assets at the end of 2020 end of the accounting year A copyright purchased on January 1, 2020, for a cash cost of $16100. The copyright is expected to have a 10-year useful life to Springer b Goodwill of $81,000 from the purchase of the Hartford Company on July 1, 2019, cA patent purchased on January 1, 2019. for $64,000. The inventor had registered the patent with the US Patent and Trademark Office on January...
Trotman Company nad theee intangible assets at the end of 2016 (end of the accounting year a Computer sotware and web development technology purchased on Janusary 1, 2015, for $77,000. The technology s expected to have a tour-year useful lte to the company. b. A patent purchased from lan 2immer on January 1, 2016, for a cash cost of $9,000. Zimmer had registered the patent with the U.S Patent O Office five years ago k purchased for $26,000 on November...
3 Bluestone Company had three intangible assets at the end of the current year: a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $2,700. When purchased, the patent had an estimated life of 9 years as much as $150,000 because it has an indefinite life life to the company b. A trademark was registered with the federal government for $5,500. Management estimated that the trademark could be worth 10 points C. Computer...
juny nou uirée intangible assets at the end of 2020 (end of the accounting year): A copyright purchased on January 1, 2020, for a cash cost of $15,100. The copyright is expected to have a 10-year useful life Springer. Goodwill of $71,000 from the purchase of the Hartford Company on July 1, 2019. A patent purchased on January 1, 2019, for $44,000. The inventor had registered the patent with the U.S. Patent and Tradem Office on January 1, 2015. Springer...
Bluestone Company had three
intangible assets at the end of the current year: A patent
purchased this year from Miller Co. on January 1 for a cash cost of
$7,500. When purchased, the patent had an estimated life of 15
years. A trademark was registered with the federal government for
$6,500. Management estimated that the trademark could be worth as
much as $170,000 because it has an indefinite life. Computer
licensing rights were purchased this year on January 1 for...
Kreiser Company had three intangible assets at the end of 2017 (end of the accounting year): a. A patent was purchased from J. Miller on January 1, 2017, for a cash cost of $5,640. When purchased, the patent had an estimated life of fifteen years. b. A trademark was registered with the federal government for $10,000. Management estimated that the trademark could be worth as much as $200,000 because it has an indefinite life. c. On January 1, 2017, computer...
Required 1-3 Please!
Bluestone Company had three intangible assets at the end of the current year: a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $5,600. When purchased, the patent had an estimated life of 8 years. b. A trademark was registered with the federal government for $12,500. Management estimated that the trademark could be worth as much as $290,000 because it has an indefinite life. c. Computer licensing rights were purchased...
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