Questions 47 & 48

Goodwill may be expensed upon purchase if desired, can be sold by itself to another company, can be purchased and charged directly to stockholders' equity. is only recorded when the purchase of an entire business occurs. On May 1, 2014. Irwin Company purchased the copyright Quick Computer tutorials for $90.000. it is estimated that the copyright will have a useful life of 5 years. The amount of amortization expense recognized for the year 2014 would be $18,000 $12,000 $9,000 $9,000