4. Blade Corporation spent P500,000 for R&D expenses to develop a patent which is registered on Jan. 2, 2017. The company paid P544,000 for legal and other fees to register the patent. On July 1, 2019, the corporation paid an additional P148,800 in successfully defending the patent. On Jan. 1, 2020, the corporation purchased a complimentary patent for P340,000. How much amortization expense should be reported in the 2019 income statement?

4. Blade Corporation spent P500,000 for R&D expenses to develop a patent which is registered on Jan. 2, 2017. The company paid P544,000 for legal and other fees to register the patent. On July 1, 2019, the corporation paid an additional P148,800 in successfully defending the patent. On Jan. 1, 2020, the corporation purchased a complimentary patent for P340,000. How much amortization expense should be reported in the 2019 income statement?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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