Chapter 20 Problem 20-5
2008 Research and development expense 250,000
Cash 250,000
2009 Patent 60,000
Cash 60,000
Amortization of patent 6,000
Patent (60,000 / 10) 6,000
2010 Patent 600,000
Cash 600,000
Original cost 60,000
New patent 600,000
Total cost 660,000
Less: Amortization for 2008 6,000
Balance – January 1, 2009 654,000
Amortization of patent (654,000 / 15) 43,600
Patent 43,600
2011 Amortization of patent 43,600
Patent 43,600
Patent written off 566,800
Patent 566,800
Balance – 1/1/2010 654,000
Less: Amortization
2010 43,600
2011 43,600 87,200
Unamortized cost 566,800
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