Homework Answers
Amortization :
Copyright amortization = 16,100 /10 =$1,610
Good will is not amortized (it is impaired) = 0
Patents amortization :
Legal life of patent = 20
Remaining life of patent = 16 years (2019 - 2015 = patent already used for 4 years)
Patent amortized for the year = 64000/16 = 4000
Part B : (Income statement )
Amortization expense = 5,610 (1610 + 0 + 4000)
Part C: (Balance SHeet Presentation)
Intangibles:
Copyright = 16100
Goodwill = 81000
Patents = 64000
Less: Accumulated amortization = (9.610)
Intangible assets = 151,490
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$6,500. Management estimated that the trademark could be worth as
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