Question
Snowbird Company was granted a patent on January 1, 2019, which had cost $68,000 and has a legal life of 17 years. However, due to
Snowbird Company was granted a patent on January 1, 2019, which had cost $68,000 and has a legal life of 17 years. However, due to expected technological changes, the expected useful life of the patent is only 8 years. What is the amount of the patents amortization expense for the year 2019?
| A. | $4,000 | |
| B. | $8,500 | |
| C. | $68,000 | |
| D. | $1,700 |
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Internal Audit Practice From A To Z
Authors: Patrick Onwura Nzechukwu
1st Edition
149874205X, 978-1498742054
