Chapter 20 Problem 20-3
2008
Jan. 1 Patent 255,000 Cash 255,000
Dec. 31 Amortization of patent 12,750
Patent (255,000 / 20) 12,750
2009
Dec. 31 Amortization of patent 12,750
Patent 12,750
2010
Jan. 5 Legal expense 90,000
Cash 90,000
Dec. 31 Amortization of patent 12,750
Patent 12,750
2011
Jan. 1 Patent 510,000
Cash 510,000
Dec. 31 Amortization of patent 42,750
Patent 42,750
On original cost 12,750
On competing patent (510,000 / 17) 30,000
42,750
No comments:
Post a Comment