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Tones Industries has the following patents on its December 31, 2024, balance sheet. Patent Item Patent A 2. 1. 3. Patent B Patent C Year
Tones Industries has the following patents on its December 31, 2024, balance sheet. Patent Item Patent A 2. 1. 3. Patent B Patent C Year 2026 Initial Cost 2027 $30,600 $15,000 $14,400 The following events occurred during the year ended December 31, 2025. Expected Future Cash Flows Date Acquired $2,000 3/1/21 2,000 7/1/22 9/1/23 Research and development costs of $245,700 were incurred during the year. Patent D was purchased on July 1 for $36,480. This patent has a useful life of 9/2 years. As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent B's value may have occurred at December 31, 2025. The controller for Tones estimates the expected future cash flows from Patent B will be as follows. Useful Life at Date Acquired 17 years 10 years 4 years
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