Trotman Company had three intangible assets at the end of the current year:

a$.$ Computer software and website development technology purchased on January $1$ of the prior year for $$87,000.$ The

technology is expected to have a four$-$year useful life to the company with no residual value.

b$.$ A patent purchased from lan Zimmer on January $1$ of the current year for a cash cost of $$39,000.$ Zimmer had

registered the patent with the U$.$S$.$ Patent and Trademark Office five years ago. Trotman intends to use the patent for

its remaining life.

c$.$ A trademark purchased for $$15,000$ on November $1$ of the current year. Management decided the trademark has an

indefinite life.

Required:

Compute the amortization of each intangible at December $31$ of the current year. The company does not use contra$-$

accounts.

$2$a$.$ Show how the expenses related to the three intangible assets should be reported on the income statement for the

current year.

$2$b$.$ Show how the three intangible assets should be reported on the balance sheet for the current year.

Complete this question by entering your answers in the tabs below.

Compute the amortization of each intangible at December $31$ of the current year. The

company does not use contra$-$accounts.