What would be the total amount of amortization, Accounting Basics

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What would be the total amount of amortization

Bates Company acquired patent rights on Jan 1, 2010 for $1,125,000. This has an estimated useful life of 10 years and incurred legal fees of $100,000. On January 1, 2012, the company successfully defended against a lawsuit in the amount of $100,000. The company had a total of R&D expenditures related to the patent of $300,000. Based on the information above: A. What is the total cost of the patent and the amount of amortization expense for the year ending 2010? B. At December 31 of 2012 what would be the total amount of amortization expense recorded for the year?

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Accounting Basics: What would be the total amount of amortization

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Bates Company acquired patent rights on Jan 1, 2010 for $1,125,000. This has an estimated useful life of 10 years and incurred legal fees of $100,000.

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Accounting Basics: What would be the total amount of amortization

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Accounting Basics: What would be the total amount of amortization

Reference No:- TGS0674622

Recent Questions Asked Accounting Basics

Q : Explain pounds of smoked salmon

Q : How much overhead cost

Q : What should be the adjusted cash balance

Q : How to calculate the variable rate

Q : What would be the total amount of amortization

Q : What is the final payment for his claim

Q : Calculate the first year net income

Q : What is this total amount expressed on a per unit basis

Q : How to the ability and motivation is more important

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