Trademark 18. On January 2, 20x4, Blue Co. bought a trademark from Shoes, Inc. for P300,000. The carrying amount of the trademark in Shoes, Inc.'s books is P240,000. Case 1: How much is the amortization expense in 20x4? Case 2: In addition to the previous facts, an independent research company estimated that the remaining useful life of the trademark was 10 years. How much is the amortization expense in 20x4? (Adapted) 19. Theoretically, copyrights should be amortized over a. their legal life. b. the life of the creator plus fifty years. c. twenty years. d. their useful life or legal life, whichever is shorter. (Adapted) 20. On January 1, 20x0, Watts Company purchased a copyright for P600,000, having an estimated useful life of 16 years. In January 20x4, Watts paid P90,000 for legal fees in a successful defense of the copyright. Copyright amortization expense for the year ended December 31, 20x4, should be R L 2

Trademark 18. On January 2, 20x4, Blue Co. bought a trademark from Shoes, Inc. for P300,000. The carrying amount of the trademark in Shoes, Inc.'s books is P240,000. Case 1: How much is the amortization expense in 20x4? Case 2: In addition to the previous facts, an independent research company estimated that the remaining useful life of the trademark was 10 years. How much is the amortization expense in 20x4? (Adapted) 19. Theoretically, copyrights should be amortized over a. their legal life. b. the life of the creator plus fifty years. c. twenty years. d. their useful life or legal life, whichever is shorter. (Adapted) 20. On January 1, 20x0, Watts Company purchased a copyright for P600,000, having an estimated useful life of 16 years. In January 20x4, Watts paid P90,000 for legal fees in a successful defense of the copyright. Copyright amortization expense for the year ended December 31, 20x4, should be R L 2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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