(a) |
Ayayai Corporation |
||
Intangible Assets |
|||
December 31, 2020 |
|||
Franchise, net of accumulated amortization of $8340 |
|||
(Schedule 1) |
$75060 |
||
Patent, net of accumulated amortization of $2125 |
|||
(Schedule 2) |
14875 |
||
Trademark, net of accumulated amortization of $7350 |
|||
(Schedule 3) |
47850 |
||
Total intangible assets |
$137,785 |
||
Schedule 1 Franchise |
|||
Cost of franchise on 1/1/20 ($20000 + $63,400) |
$83,400 |
||
2020 amortization ($83,400 X 1/10) |
(8340) |
||
Cost of franchise, net of amortization |
$75,060 |
||
Schedule 2 Patent |
|||
Cost of securing patent on 1/2/20 |
$17000 |
||
2020 amortization ($17000 X 1/8) |
(2,125) |
||
Cost of patent, net of amortization |
$14,875 |
||
Schedule 3 Trademark |
|||
Cost of trademark |
$46000 |
||
Amortization, ($46000 X 3/20) |
(6900) |
||
Book value |
39,100 |
||
Cost of successful legal defense |
10,200 |
||
Book value after legal defense |
$49,300 |
||
Amortization, ($49,300 X 1/17 X 6/12) |
(1450) |
||
Cost of trademark, net of amortization |
$47,850 |
||
(b) |
Ayayai Corporation |
|
Expenses Resulting from Selected Intangible Assets Transactions |
||
For the Year Ended December 31, 2020 |
||
Interest expense ($63400 X 10%) |
$ 6340 |
|
Franchise amortization (Schedule 1) |
8340 |
|
Franchise fee ($860,000 X 8%) |
68800 |
|
Patent amortization (Schedule 2) |
2125 |
|
Trademark amortization (Schedule 4) |
2600 |
|
Total intangible assets |
$81,865 |
|
Schedule 4 Trademark Amortization |
|
Amortization, ($46000 X 1/20 X 6/12) |
$ 1150 |
Amortization, ($49300 X 1/17 X 6/12) |
1450 |
Total trademark amortization |
$2600 |
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