Question
ABC Co. purchased a Patent for $84,000 on 1 April 2020. Its Estimated Useful Life is 7 years. ABC uses straight line method of amortization.
ABC Co. purchased a Patent for $84,000 on 1 April 2020. Its Estimated Useful Life is 7 years. ABC uses straight line method of amortization. What is the accumulated amortization as at 31 December 2022 ? ABC uses a calendar year for accounting purposes.
Cannot answer
$33,000
$21,000
$36,000
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The Essential Handbook Of Internal Auditing
Authors: K. H. Spencer Pickett
1st Edition
0470013168, 978-0470013168
