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please solve with solutions 39-40 Use the following information to answer Nos. 39 to 40 : On January 1, 2019, Tawky Tawny Co. Was granted
please solve with solutions 39-40
Use the following information to answer Nos. 39 to 40 : On January 1, 2019, Tawky Tawny Co. Was granted a patent for an invention. The costs of licensing, registration, and other legal fees totaled P127,500. On January 1, 2021, Tawky Tawny Co. paid P45,000 in successfully defending the patent in an infringement suit brought against Tawky Tawny Co. On January 1, 2022, Tawky Tawny Co. paid P255,000 for the acquisition of a competing patent which has remaining life of 15 years. The competing patent is intended to protect the original patent. 39. How much is the patent amortization to be reported for the year 2022? a. 21,375 b. 23,375 c. 23,875 d. 24,225 40. What is the carrying value of the patents on December 31,2022? a. 339,150 b. 339,500 c. 340,000 d. 342,000 Step by Step Solution
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