1 | ||
Acquisition cost | ||
Patent | 5600 | |
Trademark | 12500 | |
Licensing rights | 48000 | |
2 | ||
Amortization expense | ||
Patent | 700 | =5600/8 |
Trademark | 0 | |
Licensing rights | 12000 | =48000/4 |
3 | ||
Income Statement (Partial) | ||
Amortization expense | 12700 | =700+12000 |
Balance Sheet (Partial) | ||
Intangibles: | ||
Patent | 4900 | =5600-700 |
Trademark | 12500 | |
Licensing rights | 36000 | =48000-12000 |
Required 1-3 Please! Bluestone Company had three intangible assets at the end of the current year:...
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...
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...
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...
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...
E9-12 Computing and Reporting the Acquisition and Amortization of Three Different Intangible Assets [LO 9-6] 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 $4,000. When purchased the patent had an estimated life of 10 years. b. A trademark was registered with the federal government for $8.500. Management estimated that the trademark could be worth as much as $210,000...
Please follow this format when answering this question. Kreiser Company had three intangible assets at the end of 2014 (end of the accounting year): a. A patent was purchased from J. Miller on January 1, 2014, for a cash cost of $5,625. When purchased, the patent had an estimated life of 15 years. b. A trademark was registered with the federal government for $21,000. Management estimated that the trademark could be worth as much as $200,000 because it has an...
a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $2,200. When purchased, the patent had an estimated life of 11 years . b. A trademark was registered with the federal government for $5,000. Management estimated that the trademark could be worth as much as $140,000 because it has an indefinite life. c. Computer licensing rights were purchased this year on January 1 for $36,000. The rights are expected to have a four-year...
assets at the end of the 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 12 years. b. A trademark was registered with the federal government for $4,000. Management estimated that the trademark could be worth as much as $120,000 because it has an indefinite life. c. Computer licensing rights were purchased this year on January 1 for 42,000. The rights...
E9-12 Computing and Reporting the Acquisition and Amortization of Three Different intangible Assets (106) Kieser Company had three intangible assets at the end of 2011 end of the accounting yet a A patent was purchased from 1 Miller on January 1, 2014. for a cash cost of $5.700 When purchased the patent had an estimated te of 15 years. A trademark was registered with the federal ayeinment for $14,ODD Management estimated that the trademack could be worth as much as...
14 a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $9,300. When purchased, the patent had an estimated life of 15 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. Computer licensing rights were purchased this year on January 1 for $60,000. The rights are expected to have a five-year useful...