Maurice Tutor

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About Maurice Tutor

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Expertise:
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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 5 Days Ago
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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 04 May 2018 My Price 9.00

Bluestone Company

Bluestone Company had three intangible assets at the end of the current year:

a.
A patent purchased this year from Miller Co. on January 1 for a cash cost of $3,600. When purchased, the patent had an estimated life of 12 years.
b.
A trademark was registered with the federal government for $10,500. Management estimated that the trademark could be worth as much as $250,000 because it has an indefinite life.
c.
Computer licensing rights were purchased this year on January 1 for $40,000. The rights are expected to have a five-year useful life to the company.

Required:
1.
Compute the acquisition cost of each intangible asset.

AQUSTION COST
       Patent
Trademark
License rights

2.
Compute the amortization of each intangible for the current year ended December 31. (Do not round intermediate calculations.)

Amortization expenses
       Patent               
Trademark
License rights

3.
Show how these assets and any related expenses should be reported on the balance sheet and income statement for the current year.

              

Income statement for th year ending December 31

Answers

Maurice Tutor
(5)
Status NEW Posted 04 May 2018 07:05 PM My Price 9.00

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