vnne Corporation acquired a patent on May 1, 2015 Lyrne paid cash of sAD 006 t0 eller, Legal fees of $1,000 were paid related to the acquisition What amount shoud be lebited to the patent account? $1.000 $39.000 $40.000 $41,000 Thompson Company purchased a patent for $100,000 and paid legal fees of s50,000 to acquire the patent. The patent has a legal life of 20 years and a useful lde of 10 years. What amount should Thompson record as Patent Amortization Expense in the first year? $0 $ 5,000. $ 7,500 d. $15,000 a c Companies should evaluate indefinite life intangible assets at least annually for a. recoverability. b amortization. C. impairment. d. estimated useful life. Research costs incurred internally to create intangibles are a. capitalized as incurred. b. capitalized after achieving economic viability expensed as incurred. d. Capitalized only if they have a limited life. C. 5. Dotel Company's 12/31/15 statement of financial position reports assets of $6,000,000 and liabilities of $2.500.000. All of Dotel's assets' book values approximate their fair value. except for land, which has a fair value that is $400,000 greater than its book value. Or- 12/31/15, Egbert Corporation paid $6,500,000 to acquire Dotel. What amount of goodw should Egbert record as a result of this purchase? a. $ -0- b. $500,000 c. $2,600,000 d. $3,000,000