Chapter 20 Problem 20-12
1. Copyright 620,000
Patent 400,000
Retained earnings 1,020,000
Copyright 1 400,000
Less: Amortization from 1/1/2004 to 12/31/2007 (400,000 / 20 x 4) 80,000
Book value 320,000
Copyright 2 360,000
Less: Amortization from 7/1/2005 to 12/31/2007 (360,000 / 15 x 2.5) 60,000
Book value 300,000
Patent 500,000
Less: Amortization for 2006 and 2007 (500,000 / 10 x 2) 100,000
Book value 400,000
2. Amortization of copyright (20,000 + 24,000) 44,000
Amortization of patent 50,000
Copyright 44,000
Patent 50,000
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