In early January 2024, Ayayai Corporation applied for a trade name, incurring legal costs of $15,800. In January 2025, Ayayai incurred $7,200 of legal fees in a successful defense of its trade name. (a) Compute 2024 amortization, 12/31/24 book value, 2025 amortization, and 12/31/25 book value if the company amortizes the trade name over 10 years. (Round answers to O decimal places, e.g. 5,125.) 2024 amortization $

In early January 2024, Ayayai Corporation applied for a trade name, incurring legal costs of $15,800. In January 2025, Ayayai incurred $7,200 of legal fees in a successful defense of its trade name. (a) Compute 2024 amortization, 12/31/24 book value, 2025 amortization, and 12/31/25 book value if the company amortizes the trade name over 10 years. (Round answers to O decimal places, e.g. 5,125.) 2024 amortization $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Question

In early January 2024, Ayayai Corporation
applied for a trade name, incurring legal
costs of $15,800. In January 2025, Ayayai
incurred $7,200 of legal fees in a
successful defense of its trade name.
(a)
Compute 2024 amortization,
12/31/24 book value, 2025
amortization, and 12/31/25 book
value if the company amortizes the
trade name over 10 years. (Round
answers to O decimal places, e.g. 5,125.)
2024 amortization
12/31/24 book value
2025 amortization
12/31/25 book value
$
LA
LA
$
of
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