Hw.100. Your answer has been saved. See score details after the due date.Compute the total carrying amount of Bramble's patents on its December 31, 2024, balance sheet. (Round answer to O decimalplaces,e.g. 5,125.)Total carrying amount $(b)eTextbook and Media59,266Total carrying amountAttempts: 1 of 1 usedCompute the total carrying amount of Bramble's patents on its December 31, 2025, balance sheet. (Round present value factorcalculations to 5 decimal places, e.g. 1.25124 and final answer to O decimal places e.g. 58,971.) Bramble Industries has the following patents on its December 31, 2024, balance sheet.Patent ItemPatent APatent BPatent C1.2.The following events occurred during the year ended December 31, 2025.3.Initial Cost$43,248$16,440$20,210Year202620272028Date Acquired3/1/217/1/229/1/23Useful Life at Date Acquired17 years10 years4 yearsResearch and development costs of $242,000 were incurred during the year.Patent D was purchased on July 1 for $43,548. This patent has a useful life of 9¹/2 years.Expected FutureCash FlowsAs a result of reduced demands for certain products protected by Patent B. a possible impairment of Patent B's value mayhave occurred at December 31, 2025. The controller for Bramble estimates the expected future cash flows from Patent B willbe as follows.$1,9501,9501,950The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.)Click here to view factor tables.

An intangible asset is a nonphysical asset such as a patent, copyright, or goodwill. The company…

Bramble Industries has the following patents on its December 31, 2024, balance sheet. Patent Item Initial Cost Date Acquired Patent A $43,248 3/1/21 Patent B $16,440 7/1/22 Patent C $20,210 9/1/23 The following events occurred during the year ended December 31, 2025. 1. Research and development costs of $242,000 were incurred during the year. 2. Patent D was purchased on July 1 for $43,548. This patent has a useful life of 9¹/2 years. 3. As a result of reduced demands for certain products protected by Patent B. a possible impairment of Patent B's value may have occurred at December 31, 2025. The controller for Bramble estimates the expected future cash flows from Patent B be as follows. Year 2026 2027 2028 Expected Future Cash Flows $1,950 1,950 Useful Life at Date Acquired 17 years 10 years 4 years 1,950

Bramble Industries has the following patents on its December 31, 2024, balance sheet. Patent Item Initial Cost Date Acquired Patent A $43,248 3/1/21 Patent B $16,440 7/1/22 Patent C $20,210 9/1/23 The following events occurred during the year ended December 31, 2025. 1. Research and development costs of $242,000 were incurred during the year. 2. Patent D was purchased on July 1 for $43,548. This patent has a useful life of 9¹/2 years. 3. As a result of reduced demands for certain products protected by Patent B. a possible impairment of Patent B's value may have occurred at December 31, 2025. The controller for Bramble estimates the expected future cash flows from Patent B be as follows. Year 2026 2027 2028 Expected Future Cash Flows $1,950 1,950 Useful Life at Date Acquired 17 years 10 years 4 years 1,950

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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