Question
Safe Company was granted a patent on a product on January 1, 2019 with a 20-year useful life. To protect the patent, the entity purchased
Safe Company was granted a patent on a product on January 1, 2019 with a 20-year useful life.
To protect the patent, the entity purchased on January 1, 2019 for P4,500,000 a patent on a competing product which was
originally issued on January 1, 2014.
Because of the unique plant, the entity does not feel the competing patent can be used in producing a product.
What is the amortization of the competing patent for 2019?
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Essentials Of Forensic Accounting
Authors: Michael A Crain, William S Hopwood
2nd Edition
1948306441, 978-1948306447
