How to get the 630,000 answer? On January 2, 2016, Dec Company purchased a patent for a newconsumer product for P900,000.At the time of purchase, thepatent was valid for 15 years. However, the patent's useful life wasestimated to be only 10 years due to the competitive nature of theproduct.withdrawn from sale under governmental order because of apotential health hazard in the product.OrDecember 31, 2019, the product was permanentlyWhat total amount should Dec charge against income during 2019assuming amortization is recorded at the end of each year?P 90,000P540,000P630,000P720,000a.b.C.d.a trademark from Kit

Patents are intangible assets (those which do not have physical appearance). Intangible assets are…

On January 2, 2016, Dec Company purchased a patent for a new consumer product for P900,000. patent was valid for 15 years. However, the patent's useful life was estimated to be only 10 years due to the competitive nature of the product. On December 31, 2019, the product was permanently withdrawn from sale under governmental order because of a potential health hazard in the product. At the time of purchase, the What total amount should Dec charge against income during 2019 assuming amortization is recorded at the end of each year? P 90,000 P540,000 P630,000 P720,000 a. b. С. d. demark from

On January 2, 2016, Dec Company purchased a patent for a new consumer product for P900,000. patent was valid for 15 years. However, the patent's useful life was estimated to be only 10 years due to the competitive nature of the product. On December 31, 2019, the product was permanently withdrawn from sale under governmental order because of a potential health hazard in the product. At the time of purchase, the What total amount should Dec charge against income during 2019 assuming amortization is recorded at the end of each year? P 90,000 P540,000 P630,000 P720,000 a. b. С. d. demark from

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

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 11E

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