How to get the answer which is 78,350? MC28 Freetown Manufacturing Company acquired three patents inJanuary 2019.following schedule:The patents have different lives as indicated in hRemaining usefullife (Years)Remaining legallife (Years)CostPatent A17P125,000272,500656,20010Patent BPatent CIndefinite17Patent C is believed to be uniquely useful as long as the companyretains the right to use it.unsuccessfully attempted to defend its right to Patent B. Legalfees of P127,000 were incurred in this action. The company'spolicy is to amortize intangible assets by the straight-line methodto the nearest half-year. The company reports on a calendar-yearbasis.In June 2019, the companyHow much is the patent amortization expense for the year endedDecember 31, 2019?P 39,750P 78,350P 84,880P105,600a.b.С.d.

Amortization refers to the decline in value of an intangible asset over the usefull life of the…

in January 2019. The patents have different lives as indicated in the following schedule: Remaining useful life (Years) Remaining legal life (Years) Cost P125,000 272,500 656,200 17 Patent A 10 Patent B 17 Patent C Indefinite Patent C is believed to be uniquely useful as long as the retains the right to unsuccessfully attempted to defend its right to Patent B. Legal fees of P127,000 were incurred in this action. policy is to amortize intangible assets by the straight-line method to the nearest half-year. The company reports on basis. company In June 2019, the company use it. The company's calendar-year How much is the patent amortization expense for the year endec December 31, 2019?

in January 2019. The patents have different lives as indicated in the following schedule: Remaining useful life (Years) Remaining legal life (Years) Cost P125,000 272,500 656,200 17 Patent A 10 Patent B 17 Patent C Indefinite Patent C is believed to be uniquely useful as long as the retains the right to unsuccessfully attempted to defend its right to Patent B. Legal fees of P127,000 were incurred in this action. policy is to amortize intangible assets by the straight-line method to the nearest half-year. The company reports on basis. company In June 2019, the company use it. The company's calendar-year How much is the patent amortization expense for the year endec December 31, 2019?

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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