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View Policies Current Attempt in Progress In early January 2019, Pronghorn Corporation applied for a trade name, incurring legal costs of $17,200. In January 2020,
View Policies Current Attempt in Progress In early January 2019, Pronghorn Corporation applied for a trade name, incurring legal costs of $17,200. In January 2020, Pronghorn incurred $9,900 of legal fees in a successful defense of its trade name. Compute 2019 amortization, 12/31/19 book value, 2020 amortization, and 12/31/20 book value if the company amortizes the trade name over 10 years. 2019 amortization $ $ 12/31/19 book value $ $ 2020 amortization $ $ 12/31/20 book value $ $ Compute the 2020 amortization and the 12/31/20 book value, assuming that at the beginning of 2020, Pronghorn determines that the trade name will provide no future benefits beyond December 31, 2023. 2020 amortization $ $ 12/31/20 book value $ $ Ignoring the response for part (b), compute the 2021 amortization and the 12/31/21 book value, assuming that at the beginning of 2021, based on new market research, Pronghorn determines that the fair value of the trade name is $15,360. Estimated total future cash flows from the trade name is $16,460 on January 3, 2021. 2021 amortization $ 12/31/21 book value $ $
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