Question

K16 D F M N O P o A B 1 Formula: Multiply, Divide, Subtract; Cell Referencing 2 3 BE12.9. Using Excel to Calculate the carryi

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Answer:-

Carrying Amount

Life in Months

Amortization Per Month

Months Amortization

Patent (1/1/20)

$288,000

96

$3,000

12

Legal costs (12/1/20)

    85,000

85

$1,000

  1

$373,000

Carrying amount.................................................................................

$373,000

Less:   Amortization of patent (12 X $3,000)......................................

(36,000)

               Legal costs amortization (1 X $1,000).................................

     (1,000)

Carrying amount 12/31/20..................................................................

$336,000

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