Question

35. How much total depreciation and amortization expense did Patnode record during 2015? O $10,000 O $6,000 O $3,000 O $5,000 Note that amortization of the license asset has been shown as a separate line item only for ease of calculations. Dec 31, 2015 Change Dec. 31, 2014 Dec. 31, 2015 Change Patnode, Inc. Comparative Balance Sheet Assets Dec 31, 2014 Current Assets Cash $ 34,000 Accounts receivable 22.000 Merchandise inventory 18,000 Total current assets $ 74,000 Non-Current Assets Machinery, at cost Less: Accumulated depreciation Machinery, net $ 10,000 License, at cost 1,000 Less: Amortization 9.000 License, net Total Assets $ 83,000 $ 41,000 25,000 12.000 $ 78,000 $7,000 3,000 (6.000) $ 4,000 $ 13,000 7,000 10,000 $ 30,000 $ 12,000 9,400 15,000 $36.400 $-1,000 2.400 5,000 $ 6.400 Current Liabilities Accounts payable Taxes payable Short-term debt Total current liabilities Owners' Equity Common stock Retained earnings Total Liabilities & Owners' Equity $ 15.000 3,000 15,000 3,000 12,000 12,000 22.000 38,600 2000 19,000 34,000 $ 83,000 $ 10,000 3,000 $ 97,000 $14,000 7.000 2,000 (2.000) $ 14,000 $ 97,000

How much total depreciation and amortization expense did Patnode record during 2015?

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How much total depreciation and amortization expense did Patnode record during 2015?

• $10,000

• $6,000

• $3,000

• $5,000

Answer 1

Answer: $5,000

Explanations:

	Year 2015
Depreciation expense	$3,000
Amortization expense	$2,000
Total depreciation and amortization expense	$5,000