Chapter 12, Problem 4E

To determine

Intangible Amortization: The process of cost allocation to the intangible assets for a specific period of time is termed as amortization.

(a)

To determine the amount of patent to be reported in the balance sheet.

Given Information: Required information has been provided in the question.

To determine

(b)

To determine the amortization for December 31, 2017.

Given Information: Required information has been provided in the question.

To determine

(c)

To determine the amount of organization expense that should be reported in 2017.

Given Information: Organization cost is $275,000.

To determine

(d)

To determine the amortization for December 31, 2017.

Given Information: The required information has been provided in the question.