What is the total amount of amortization expense


In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain. The purchase price allocation included the following items: $4.2 million, patent; $2.8 million, trademark considered to have an indefinite useful life; and $6.8 million, goodwill. Burger Mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life.

What is the total amount of amortization expense that would appear in Burger Mania's consolidated income statement for the first year ended December 31 related to these items? (Enter your answer in whole dollars.)

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What is the total amount of amortization expense
Reference No:- TGS0556408

Expected delivery within 24 Hours