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Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items: Patent with 4 remaining
Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items: Patent with 4 remaining years of legal life Goodwill $40,000 35,000 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model: Cash 90,000 + Assets Patent Liab. Equity Rev. Exp. Goodwill NA NA NA 90,000 NA NA Required a. Compute the annual amortization expense for these items. Net Inc. Cash Flow NA NA b. Show the acquisition of the intangible assets and the related amortization expense for year 1 in a horizontal statements model like the one shown earlier Complete this question by entering your answers in the tabs below. Required A Required t Show the acquisition of the intangible assets and the related amortization expense for year 1 in a horizontal statements model like the one shown earlier. (In the Cash Flo initials OA to designate operating activity, TA for investing activity, FA for financing activity, NC for Net Change and NA to indicate the element is not affected by the event account balances with a minus sign.)
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