In early January 2024, Bramble Corporation applied for a trade name, incurring legal costs of $16,200. In January 2025, Bramb 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 t 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 $ $ $ $

In early January 2024, Bramble Corporation applied for a trade name, incurring legal costs of $16,200. In January 2025, Bramb 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 t 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 $ $ $ $

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, Bramble Corporation applied for a trade name, incurring legal costs of $16,200. In January 2025, Bramble
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 $

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