E9-12 Computing and Reporting the Acquisition and Amortization of Three Different Intangible Assets [LO 9-6] Bluestone Company had three intangible assets at the end of the current year a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $9,300. When purchased the patent had an estimated life of 15 years b. A trademark was registered with the federal government for $10,000 Management estimated that the trademark could be worth as much as $200,000 because it has an indefinite life. c. Computer licensing rights were purchased this year on January 1 for $60,000. The rights are expected to have a five-year useful life to the company Required: 1. Compute the acquisition cost of each intangible asset. 2. Compute the amortization of each intangible for the current year ended December 31 3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for the current year Complete this question by entering your answers in the tabs below. Check my work Required: 1. Compute the acquisition cost of each intangible asset. 2. Compute the amortization of each intangible for the current year ended December 31 3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for the current year Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3A Reg 30 Compute the acquisition cost of each intangible asset. Acquisition Cost Patent Trademark Licensing Rights Reg 2 > Required: 1. Compute the acquisition cost of each intangible asset 2. Compute the amortization of each intangible for the current year ended December 31 3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for the current year Complete this question by entering your answers in the tabs below. Reg 1 Reg2 Reg 3A Reg 38 Compute the amortization of each intangible for the current year ended December 31. (Do not round Intermediate calculations.) Amortization Expenses Patent Trademark Licensing Rights my work Required: 1. Compute the acquisition cost of each intangible asset 2. Compute the amortization of each intangible for the current year ended December 31 3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for the current year Complete this question by entering your answers in the tabs below. Reg 1 Rog 2 Red 3A Reg 38 Show how these assets and any related expenses should be reported on the income statement for the current year BLUESTONE COMPANY Income Statement (partial For the year ending December 21 Check my wo Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3A Reg 38 Show how these assets and any related expenses should be reported on the balance sheet for the current year. (Negative amounts should be indicated by a minas sign.) BLUESTONE COMPANY Balance Sheet (partian Al December 31 Intangibles
