Question
In early january 2020, HUMID Corporation applied for a trade name incurring legal costs of 160,000 based on new market research HUMID determines that the
In early january 2020, HUMID Corporation applied for a trade name incurring legal costs of 160,000 based on new market research HUMID determines that the market value of the trade name is 120,000. In january 2021, HUMID incurred 7,800 of legal fees in a successful defense of its trade name. Trade name should be amortized based on legal life
What is the cost of tradename?
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280000
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160000
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120000
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167800
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Study Guide With Working Papers, Chapters 1-9 For Heintz/Parrys College Accounting
Authors: James A. Heintz, Robert W. Parry
21st Edition
1285059379, 9781285059372
