Question
On January 1, 2017, Ted purchased a small software company for $200,000. He paid $120,000 for the fixed assets of the company and $80,000 for
On January 1, 2017, Ted purchased a small software company for $200,000. He paid $120,000 for the fixed assets of the company and $80,000 for goodwill. How much amortization may Ted deduct on his 2017 tax return for the purchased goodwill?
a. $5,750
b. $90,000
c. $6,000
d. $0
e. $5,333
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Principles Of Financial Accounting
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st Edition
0077525264, 978-0077525262
