Mikayla's Miracle Moisturizer, Co. ACC 201

Mikayla's Miracle Moisturizer, Co. made a variety of expenditures relative to the development and marketing of the product "Fountain of Youth in a bottle". Prof. Weinstein, an avid user of the product proclaimed, "I don't look a day of 87 and I'm happy as hell". As a result of the "human" trials and market research it was believed that the patent would be economically viable for a period of 8-years. Date of Expenditure 1-Oct-11 1-Dec-11 28-Feb-12 25,000 17,500 41,000 30-Jun-12 31-Jul-12 52,000 125,000 28-Feb-13 81,600 1 Product research and testing 2 Supplies used in testing process 3 Toxicology reports re: product ingredients 4 Market research re: product demand 5 Capital expenditure for production machinery and equipment 6 Amounts paid to relative to the patent registration 7 Product promotions 8 Packing costs 9 Product enhancements 10 Legal fees relative to successful defense of the patent 11 Advertising campaign 12 Legal fees relative to successful defense of the patent 1-Jun-13 1-Aug-13 1-Dec-13 1-Jan-16 31,500 17,800 52,100 62,500 1-Feb-16 1-Sep-17 39,200 33,600 As of January 1, 2019 Billy Toobooks, controller of the company revised the estimate of the remaining economic life of the Patent to 3-years Required: a Amortization expense for 2013 (allocated by months) b Carrying value (unamortized cost) as of Dec. 31, 2016 c Amortization expense for 2017 (allocated by remaining months) d Carrying value as of Dec. 31, 2018 e Amortization expense for 2019 f Carrying value as of Dec. 31, 2020