Homework Answers
| 1.Compute the acquisition cost of each intangible asset | |
| Technology | $77,000.00 |
| Patent | $9,000.00 |
| Trademark | $26,000.00 |
| 2. Compute the amortization of each intangible at December 31, 2016. | |
| Technology (77000/4) | $19,250.00 |
| Patent (9000/15) (legal life is 20 year 5 year already elapsed) | $600.00 |
| Trademark (indefinite life) | $0.00 |
| 3. Income statement for 2016: Partial | |
| Operating Expense (19250+600) | $19,850.00 |
| 4. Balance sheet at December 31, 2016: | |
| Intangibles: | |
| Technology (77000-19250*2) | $38,500.00 |
| Patent =12000-800*2 | $10,400.00 |
| Trademark | $26,000.00 |
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years. A trademark was registered with the federal government for
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much as $170,000 because it has an indefinite life. Computer
licensing rights were purchased this year on January 1 for...
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