May I ask for help with this question? I got an answer of 97, 500 (Rounded Up) Please check. On January 1, 20x1, T Co. purchase a patent from B Inc. for P500,000. Blue has held this patent for 5 years. T estimates that the patent has a remaining useful life of eight years. On January 1, 20x3, T Co. purchase a competitive patent from G Corp. for P210,000 in order to protect the old patent. The competitive patent has a remaining legal life and useful life of 20 years. How much is the total amortization expense in 20x3?
May I ask for help with this question? I got an answer of 97, 500 (Rounded Up) Please check. On January 1, 20x1, T Co. purchase a patent from B Inc. for P500,000. Blue has held this patent for 5 years. T estimates that the patent has a remaining useful life of eight years. On January 1, 20x3, T Co. purchase a competitive patent from G Corp. for P210,000 in order to protect the old patent. The competitive patent has a remaining legal life and useful life of 20 years. How much is the total amortization expense in 20x3?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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May I ask for help with this question? I got an answer of 97, 500 (Rounded Up) Please check.
On January 1, 20x1, T Co. purchase a patent from B Inc. for P500,000. Blue has held this patent for 5 years. T estimates that the patent has a remaining useful life of eight years. On January 1, 20x3, T Co. purchase a competitive patent from G Corp. for P210,000 in order to protect the old patent. The competitive patent has a remaining legal life and useful life of 20 years. How much is the total amortization expense in 20x3?
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