MC32 Jade Company spent P200,000 on research and development cost for an invention during 2014. On January 1, 2015, the invention was patented at a nomninal cost that was expensed in 2015. The legal life of the patent was 15 years and the estimated useful life was 9 years. In January 2019, Jade paid P250,000 for legal fees in a successful defense of the patent. What should be the amortization expense for 2019? a. PO P22,730 P27,780 P50,000 b. c. d.

MC32 Jade Company spent P200,000 on research and development cost for an invention during 2014. On January 1, 2015, the invention was patented at a nomninal cost that was expensed in 2015. The legal life of the patent was 15 years and the estimated useful life was 9 years. In January 2019, Jade paid P250,000 for legal fees in a successful defense of the patent. What should be the amortization expense for 2019? a. PO P22,730 P27,780 P50,000 b. c. d.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 7MC

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