VII. Sigurado Ako Dito, Inc. developed internally a trademark to distinguish its products from those of the competitors and incurred the following during the year 2022: Marketing research to study consumer tastes Design cost of trademark Legal fee of registering trademark Advertising to establish recognition of trademark Registration fee with Intellectual Property Office 800,000 1,700,000 350,000 400,000 75,000 By December 31, 2022, the said trademark was successfully registered by Sigurado Ako Dito, Inc. under its name. In the Philippine setting, the Intellectual Property Code of the Philippines provides legal protection for a trademark. The legal life of a trademark is ten (10) years and may be renewed for periods of ten (10) years each. 16. What amount of amortization should be recognized in 2023?
VII. Sigurado Ako Dito, Inc. developed internally a trademark to distinguish its products from those of the competitors and incurred the following during the year 2022: Marketing research to study consumer tastes Design cost of trademark Legal fee of registering trademark Advertising to establish recognition of trademark Registration fee with Intellectual Property Office 800,000 1,700,000 350,000 400,000 75,000 By December 31, 2022, the said trademark was successfully registered by Sigurado Ako Dito, Inc. under its name. In the Philippine setting, the Intellectual Property Code of the Philippines provides legal protection for a trademark. The legal life of a trademark is ten (10) years and may be renewed for periods of ten (10) years each. 16. What amount of amortization should be recognized in 2023?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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what amount of amortization should be recognized in 2023?
Transcribed Image Text:VII.
Sigurado Ako Dito, Inc. developed internally a trademark to distinguish its products from those of the
competitors and incurred the following during the year 2022:
Marketing research to study consumer tastes
Design cost of trademark
Legal fee of registering trademark
Advertising to establish recognition of trademark
Registration fee with Intellectual Property Office
800,000
1,700,000
350,000
400,000
75,000
By December 31, 2022, the said trademark was successfully registered by Sigurado Ako Dito, Inc.
under its name. In the Philippine setting, the Intellectual Property Code of the Philippines provides
legal protection for a trademark. The legal life of a trademark is ten (10) years and may be renewed
for periods of ten (10) years each.
16. What amount of amortization should be recognized in 2023?
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