Question 5 of 6 - / 10 View Policies Current Attempt in Progress Splish Brothers Limited purchased a patent for $84,000 on June 1, 2019. Splish Brothers has a calendar fiscal year end. Straight-line amortization is used for the patent based on a five-year useful life, although the remaining legal life was 10 years. On May 31, 2021, Splish Brothers paid $28,800 in legal fees to successfully defend this patent in court and now wants to revise the estimate of the patent's remaining useful life to 8 years, which is the same as its remaining legal life. Record the purchase of the patent on June 1, 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit June 1, 2019 be here to search 0 o 1' Cloudy 100 DA Question 5 of 6 - 10 E Record amortization expense for the fiscal years 2019 and 2020. (Credit account titles retomaty Indented when the amount entered. Do not indent manually. If no entry is required, select "No Entry for the accounttities and enter for the amount Date Account Titles and Explanation Debit Credit Dec 31, 2019 Dec 31, 2020 List of Accounts O c e here to search List of Accounts Record the payment of the legal fees on May 31, 2021. (Credit account titles are automatically indented when the amount is entered Do not indent manually. If no entry is required select "No Entry for the accountitles and enter for the amounts) Date Account Titles and Explanation Debit Credit May 31 2021 List of Accounts Type here to search o 0 - C Cloudy OVO 04 PIR MIN be FH TO FI + & BAR % - S Question 5 of 6 -/10 E Record any necessary amortization prior to the change in the useful life of the patent. (Credit account is creatomy Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the accountries and entert the amounts) Date Account Titles and Explanation Debit Credit May 31, 2021 List of Accounts Record the amortization expense for the remainder of the 2021 fiscal year (Credit account tore automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account title and enter for the amounts O COAD Type here to search Question 5 of 6 -710 E Record any necessary amortization prior to the change in the useful life of the patent. (Credit account titles are automaty Indented when the amount is entered. Do not inden marily If no entry is required, select "No Entry for the account and tortor the amount Date Account Titles and Explanation Debit Credit May 31, 2021 List of Accounts Record the amortization expense for the remainder of the 2021 fiscal year. Credit accountries are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Cloudy Tipe here to search Question 5 of 6 -/10 E Record the amortization expense for the remainder of the 2021 fiscal year. (Credit account titles are automatically indented amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amount Date Account Titles and Explanation Debit Credit Dec. 31, 2021 List of Accounts What was the total amount of the amortization expense appearing on the income statement for fiscal year 2021? $ Total amount of the amortization expense O e here to search 3 Cloudy 1:00 PM Question 5 of 6 / 10 111 What was the total amount of the amortization expere appearing on the income statement for fiscal year 2017 Total amount of the amortization expense 5 List of Accounts What is the carrying amount of the patent on the balance sheet at December 31, 2021? Carrying amount on the balance sheet at December 31, 2021 $ List of Accounts Type here to search o O ti EC - Cloudy 400 novo PAS W al
