Amortization of Intangibles
For each of the following intangible assets, indicate the amount of amortization expense that should be recorded for the year 2016 and the amount of accumulated amortization on the balance sheet as of December 31, 2016.
Trademark Patent Copyright
Cost $42,000 $47,000 $75,600
Date of purchase 1/1/09 1/1/11 1/1/14
Useful life indefinite 10 yrs. 20 yrs.
Legal life undefined 20 yrs. 50 yrs.
Method SL* SL SL
Represents the straight-line method.
If an amount is zero, enter "0".
Amount Trademark Patent Copyright
2016 amortization expense $ $ $
Accumulated amortization, Dec. 31, 2016 $ $ $