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In early January 2020, Sandhill Corporation applied for and received approval for a trade name, incurring legal costs of $44,800. In early January 2021, Sandhill

In early January 2020, Sandhill Corporation applied for and received approval for a trade name, incurring legal costs of $44,800. In early January 2021, Sandhill incurred $23,400 in legal fees in a successful defence of its trade name.

Calculate amortization for 2020; carrying amount at December 31, 2020; amortization for 2021; and carrying amount at December 31, 2021, if the company amortizes the trade name over its 14-year legal life. (Round answers to 0 decimal places, e.g. 5,275.)

2020 2021
Amortization amount $ $
Carrying amount $ $

Calculate amortization for 2020; carrying amount at December 31, 2020; amortization for 2021; and carrying amount at December 31, 2021, if the company amortizes the trade name over a useful life of 4 years.

2020 2021
Amortization amount $ $
Carrying amount $ $

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