Answer- The amount of amortization expense recognized for the year 2022 would be =$174000.
Explanation-Amortization expense for year 2022 = ($1044000/4 years)*8 months/12 months
= ($261000*8 months/12 months)
= $174000
On May 1, 2022, Sheridan Company purchased the copyright to Concord Corporation for $104400. It is...
Question 79 On May 1, 2017, Crane Company purchased the copyright to Pronghorn Corp. for $90000. It is estimated that the copyright will have a useful life of 4 years. The amount of amortization expense recognized for the year 2017 would be $12000. $11250. $15000. $22500.
On July 1, 2022, Carla Vista Co. purchased the copyright to Martinez Corp. for $360000. It is estimated that the copyright will have a useful life of 5 years. The amount of amortization expense recognized for the year 2022 would be $36000. $66600. $34687. $72000.
On May 1, 2022, Carla Vista Co purchased the Copyright to Martinez Corp. for $132000. It s recognized for the year 2022 would be t ated that the copyright will have a us e of 5 years. The amount of amortization expense $17500 26400 $13200 1480
These are selected 2022 transactions for Blue Corporation: Jan. 1 Purchased a copyright for $84,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years. Mar. 1 Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $27,000. Sept. 1 Purchased a small company and recorded goodwill of $114.000. Its useful life is indefinite. Prepare all adjusting entries at December 31 to record amortization...
On December 1, 2017.Gorden Company purchased the copyright to Thunder Computer for $24,000. It is estimated that the copyright will have a useful life of 7 years. The amount of amortization expense recognized for the year 2017 would be $24.000 53.429 O $3,143 5216
1.On May 1, 2017, Irwin Company purchased the copyright to Quick
Computer Tutorials for $120000. It is estimated that the copyright
will have a useful life of 5 years. The amount of amortization
expense recognized for the year 2017 would be
$24000.
$12000.
$16000.
$12800.
2.
Whyte Clinic purchases land for $420000 cash. The clinic assumes
$4500 in property taxes due on the land. The title and attorney
fees totaled $3000. The clinic had the land graded for $6600. What...
These are selected 2022 transactions for Bramble Corporation: Purchased a copyright for $153,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years. Jan. 1 Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $96,000. Mar. 1 Purchased a small company and recorded goodwill of $183,000. Its useful life is indefinite. Sept. 1 Prepare all adjusting entries at December 31 to record amortization...
These are selected 2022 transactions for Culver Corporation: Jan. 1 Purchased a copyright for $135,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years. Mar. 1 Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $78,000. Sept. 1 Purchased a small company and recorded goodwill of $165,000. Its useful life is indefinite. Prepare all adjusting entries at December 31 to record amortization...
These are selected 2022 transactions for Martinez Corporation: Jan. 1 Purchased a copyright for $105,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years. Mar. 1 Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $54,000. Sept. 1 Purchased a small company and recorded goodwill of $135,000. Its useful life is indefinite. Prepare all adjusting entries at December 31 to record amortization...
These are selected 2022 transactions for Novak Corporation: Jan. 1 Purchased a copyright for $111,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years. Mar. 1 Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $48,000. Sept. 1 Purchased a small company and recorded goodwill of $141,000. Its useful life is indefinite. Prepare all adjusting entries at December 31 to record amortization...