menu
Qammunity
Login
Register
My account
Edit my Profile
Private messages
My favorites
Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question
Waves company purchased a patent for $170,000 at the beginning of 2011, and estimated that its expected useful life was 10 years. the patent has a legal life of 17 years. what amount should be recorded
asked
Jul 11, 2018
124k
views
4
votes
Waves company purchased a patent for $170,000 at the beginning of 2011, and estimated that its expected useful life was 10 years. the patent has a legal life of 17 years. what amount should be recorded as amortization expense for the patent in 2011?
Business
college
Abhishek Bhutra
asked
by
Abhishek Bhutra
7.6k
points
answer
comment
share this
share
0 Comments
Please
log in
or
register
to add a comment.
Please
log in
or
register
to answer this question.
1
Answer
4
votes
Purchased the patent for $170,000 in the beginning of 2011.Expected useful life is 10 years.Has a legal life of 17 years.Amortization expense = Cost/estimated useful life = $170,000/10 years = $17,000 per yea
Anael
answered
Jul 16, 2018
by
Anael
9.0k
points
ask related question
comment
share this
0 Comments
Please
log in
or
register
to add a comment.
← Prev Question
Next Question →
Related questions
asked
Sep 14, 2021
119k
views
During 2013, Winston Corporation spent $170,000 in research and development costs. As a result, a new product called the New Age Piano was patented. The patent was obtained on October 1, 2013, and had
Siffiejoe
asked
Sep 14, 2021
by
Siffiejoe
8.9k
points
Business
high-school
1
answer
5
votes
119k
views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.
9.4m
questions
12.2m
answers
Other Questions
Who was Adam Smith ? Anybody?
What can turn igneous rock into sediment?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
What is meant by data mining ?
You sell popcorn during your schools football games. Knowing that the people usually buy more when the price is lower, how would you price your popcorn after halftime?
Twitter
WhatsApp
Facebook
Reddit
LinkedIn
Email
Link Copied!
Copy
Search Qammunity