Amortization: Amortization is the process of allocating the value of the intangible assets over its estimated useful life. j Methods of amortization: Percentage-of-revenue method –– Amortization is determined with the ratio of the current revenues to the current and anticipated revenues. Straight-line method –– Amortization is determined with the straight line percentage over the estimated life of the asset. To Calculate: The amortization of the patent for the year 2014 and 2015.

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Answer 1

Question

Chapter 11, Problem 11.33E

1.

To determine

Amortization:

Amortization is the process of allocating the value of the intangible assets over its estimated useful life.

j

Methods of amortization:

Percentage-of-revenue method –– Amortization is determined with the ratio of the current revenues to the current and anticipated revenues.

Straight-line method –– Amortization is determined with the straight line percentage over the estimated life of the asset.

To Calculate: The amortization of the patent for the year 2014 and 2015.

2.

To determine

To Prepare: The journal entry to record the 2016 litigation costs.

3.

To determine

To Calculate: The amortization for the year 2016.

4.

To determine

To Prepare: The journal entry to record the 2016 litigation costs as per IFRS.

To determine

To Calculate: The amortization for the year 2016 as per IFRS.

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Answer 2

Question

Chapter 11, Problem 11.33E

1.

To determine

Amortization:

Amortization is the process of allocating the value of the intangible assets over its estimated useful life.

j

Methods of amortization:

Percentage-of-revenue method –– Amortization is determined with the ratio of the current revenues to the current and anticipated revenues.

Straight-line method –– Amortization is determined with the straight line percentage over the estimated life of the asset.

To Calculate: The amortization of the patent for the year 2014 and 2015.

2.

To determine

To Prepare: The journal entry to record the 2016 litigation costs.

3.

To determine

To Calculate: The amortization for the year 2016.

4.

To determine

To Prepare: The journal entry to record the 2016 litigation costs as per IFRS.

To determine

To Calculate: The amortization for the year 2016 as per IFRS.

Expert Solution & Answer

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Answer 3

Question

Chapter 11, Problem 11.33E

1.

To determine

Amortization:

Amortization is the process of allocating the value of the intangible assets over its estimated useful life.

j

Methods of amortization:

Percentage-of-revenue method –– Amortization is determined with the ratio of the current revenues to the current and anticipated revenues.

Straight-line method –– Amortization is determined with the straight line percentage over the estimated life of the asset.

To Calculate: The amortization of the patent for the year 2014 and 2015.

2.

To determine

To Prepare: The journal entry to record the 2016 litigation costs.

3.

To determine

To Calculate: The amortization for the year 2016.

4.

To determine

To Prepare: The journal entry to record the 2016 litigation costs as per IFRS.

To determine

To Calculate: The amortization for the year 2016 as per IFRS.

Expert Solution & Answer

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Answer 4

Question

Chapter 11, Problem 11.33E

1.

To determine

Amortization:

Amortization is the process of allocating the value of the intangible assets over its estimated useful life.

j

Methods of amortization:

Percentage-of-revenue method –– Amortization is determined with the ratio of the current revenues to the current and anticipated revenues.

Straight-line method –– Amortization is determined with the straight line percentage over the estimated life of the asset.

To Calculate: The amortization of the patent for the year 2014 and 2015.

2.

To determine

To Prepare: The journal entry to record the 2016 litigation costs.

3.

To determine

To Calculate: The amortization for the year 2016.

4.

To determine

To Prepare: The journal entry to record the 2016 litigation costs as per IFRS.

To determine

To Calculate: The amortization for the year 2016 as per IFRS.

Expert Solution & Answer

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Answer 5

Chapter 11, Problem 11.33E

1.

To determine

Amortization:

Amortization is the process of allocating the value of the intangible assets over its estimated useful life.

j

Methods of amortization:

Percentage-of-revenue method –– Amortization is determined with the ratio of the current revenues to the current and anticipated revenues.

Straight-line method –– Amortization is determined with the straight line percentage over the estimated life of the asset.

To Calculate: The amortization of the patent for the year 2014 and 2015.

2.

To determine

To Prepare: The journal entry to record the 2016 litigation costs.

3.

To determine

To Calculate: The amortization for the year 2016.

4.

To determine

To Prepare: The journal entry to record the 2016 litigation costs as per IFRS.

To determine

To Calculate: The amortization for the year 2016 as per IFRS.

Answer 6

Chapter 11, Problem 11.33E

1.

To determine

Amortization:

Amortization is the process of allocating the value of the intangible assets over its estimated useful life.

j

Methods of amortization:

Percentage-of-revenue method –– Amortization is determined with the ratio of the current revenues to the current and anticipated revenues.

Straight-line method –– Amortization is determined with the straight line percentage over the estimated life of the asset.

To Calculate: The amortization of the patent for the year 2014 and 2015.

Answer 7

Chapter 11, Problem 11.33E

1.

To determine

Amortization:

Amortization is the process of allocating the value of the intangible assets over its estimated useful life.

j

Methods of amortization:

Percentage-of-revenue method –– Amortization is determined with the ratio of the current revenues to the current and anticipated revenues.

Straight-line method –– Amortization is determined with the straight line percentage over the estimated life of the asset.

To Calculate: The amortization of the patent for the year 2014 and 2015.

Answer 8

2.

To determine

To Prepare: The journal entry to record the 2016 litigation costs.

Answer 9

2.

To determine

To Prepare: The journal entry to record the 2016 litigation costs.

Answer 10

3.

To determine

To Calculate: The amortization for the year 2016.

Answer 11

3.

To determine

To Calculate: The amortization for the year 2016.

Answer 12

4.

To determine

To Prepare: The journal entry to record the 2016 litigation costs as per IFRS.

Answer 13

4.

To determine

To Prepare: The journal entry to record the 2016 litigation costs as per IFRS.

Answer 14

To determine

To Calculate: The amortization for the year 2016 as per IFRS.

Answer 15

To determine

To Calculate: The amortization for the year 2016 as per IFRS.

Answer 16

Expert Solution & Answer

Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

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To Prepare: The journal entry to record the 2016 litigation costs.

To Calculate: The amortization for the year 2016.

To Prepare: The journal entry to record the 2016 litigation costs as per IFRS.

To Calculate: The amortization for the year 2016 as per IFRS.

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Chapter 11 Solutions