Trotman Company had three intangible assets at the end of 2012 (end of the accounting year):

a.	Computer software and Web development technology purchased on January 1, 2011, for $88,000. The technology is expected to have a four-year useful life to the company.
b.	A patent purchased from Ian Zimmer on January 1, 2011, for a cash cost of $39,000. Zimmer had registered the patent with the U.S. Patent Office five years ago.
c.	An internally developed trademark registered with the federal government for $18,000 on November 1, 2012. Management decided to capitalize the $18,000 as an intangible asset with an indefinite life.

Required:
1.	Compute the acquisition cost of each intangible asset.(Omit the "$" sign in your response.)

	Acquisition cost
Technology	$
Patent
Trademark

2.	Compute the amortization of each intangible at December 31, 2012. The company does not use contra-accounts. Assume the company uses straight-line method.(Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)

	Amortization
Technology	$
Patent
Trademark

3.	Show how these assets and any related expenses should be reported on the balance sheet and income statement for 2012.(Omit the "$" sign in your response.)

Income statement for 2012:
Operating expenses:
(Click to select)Amortization expenseTechnologyDepreciation expensePatentAccumulated depreciation	$

Balance sheet at December 31, 2012:
(under noncurrent assets)
Intangibles:
(Click to select)Accumulated depreciationPatentTechnologyTrademarkInventories	$
(Click to select)TrademarkInventoriesPatentTechnologyAccumulated depreciation
(Click to select)PatentAccumulated depreciationTrademarkTechnologyInventories
	$

rev: 11_21_2013_QC_38170