Maurice Tutor

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About Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 18 Jan 2018 My Price 8.00

Trotman Company

Trotman Company had three intangible assets at the end of 2012 (end of the accounting year):
(a) Computer software and Web development technology purchased on January 1, 2011, for $70,000. The technology is expected to have a four-year useful life to the company.
(b) A patent purchased from Ian Zimmer on January 1, 2012, for a cash cost of $6,000. Zimmer had registered the patent with the U.S. Patent Office five years ago.
(c) An internally developed trademark registered with the federal government for $13,000 on November 1, 2012. Management decided the trademark has an indefinite life.
Required:
1. Compute the acquisition cost of each intangible asset.
2. Compute the amortization of each intangible at December 31, 2012. The company does not use contra-accounts.
3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for 2012.

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Jan 2018 08:01 PM My Price 8.00

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