Ans (2)
Amortization | |
Copyright | $1620 |
Goodwill | $0 |
Patent | $ 4125 |
Explanation:
1) Copyright:
Straight line method with no residual value.
= $16200 × 1/10
= $ 1620 per year
2) Goodwill :
The goodwill is not amortized due it its indefinite life.Therefore amortization expense would be $0
3) Patent:
Legal Life | 20 year |
Used life ( 2012 - 2015) | 4 year |
Remaining Life | 16 year |
Amortization:
= $ 66000 × 1/16
= $ 4125
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