Return for the purchased goodwill, Accounting Basics

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Return for the purchased goodwill

On January 1, 2012, Ted purchased a small software company for $200,000. He paid $95,000 for the fixed assets of the company and $105,000 for goodwill. How much amortization may Ted deduct on his 2012 tax return for the purchased goodwill?

Select one:

a. $0

b. $21,000

c. $105,000

d. $7,000

e. $15,000

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Accounting Basics: Return for the purchased goodwill

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Accounting Basics: Return for the purchased goodwill

Reference No:- TGS046077

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Recent Questions Asked Accounting Basics

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Accounting Basics: Return for the purchased goodwill

Reference No:- TGS046077

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