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A patent was purchased on 1/1/2015 for 120,000 with 10 years useful life .On 1/1/2016 the company paid legal defense fees of 63,000.on 1/1/2017 the
A patent was purchased on 1/1/2015 for 120,000 with 10 years useful life .On 1/1/2016 the company paid legal defense fees of 63,000.on 1/1/2017 the management decided to impair the patent they expected the future net cash flow 70,000 and fair value 60,000 required calculate the amortization expense for the years: 2015,2016,2017,2018
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Financial Accounting A Decision Making Approach
Authors: Thomas E. King, Valdean C. Lembke, John H. Smith
2nd Edition
0471328235, 978-0471328230
