23) Apple Corporation acquired a copyright on September 1, 2020. Apple paid cash of $85,000 to the seller. Legal fees of $3,000 were paid related to the acquisition. What amount should be debited to the copyright account? 24) Yellow Corporation purchased a limited-life intangible asset for $375,000 on November 1, 2019. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2021? 25) ABC Company purchased a patent on January 1, 2020 for $640,000. The patent had a remaining useful life of 10 years at that date. In January of 2021, ABC successfully defends the patent at a cost of $288,000, extending the patent's life to December 30, 2030. What amount of amortization expense would ABC record in 2021? 26) Company's December 31, 2021 balance sheet reports assets of $7,000,000 and liabilities of $2,800,000. All of Green's assets' book values approximate their fair value, except for land, which has a fair value that is $400,000 greater than its book value. On December 31, 2021, Blue Corporation paid $7,100,000 to acquire Green. What amount of goodwill should Blue record as a result of this purchase? 27) Blue Sky Co. incurred research and development costs in 2021 as follows: Materials used in research and development projects $ 950,000 Equipment acquired that will have alternate future uses in future research and development projects 2,000,000 Depreciation for 2021 on above equipment 400,000 Personnel costs of persons involved in research and development projects Indirect costs reasonably allocable to research and development projects 750,000 225,000 The amount of research and development costs charged to Blue Sky's 2021 income statement should be 28) Depreciation expense, depletion expense and amortization expense are all expenses shown on an income statement. (answer true or false)