Details of this Paper

Fina Accounting

Description

solution


Question

Bluestone Company had three intangible assets at the end of 2014 (end of the accounting year);a.;A patent purchased from Miller Co. on January 1, 2014, for a cash cost of $4,000. When purchased, the patent had an estimated life of ten years.;b.;A trademark was registered with the federal government for $11,000. Management estimated that the trademark could be worth as much as $260,000 because it has an indefinite life.;c.;Computer licensing rights were purchased on January 1, 2014, for $36,000. The rights are expected to have a four-year useful life to the company.

 

Paper#77370 | Written in 18-Jul-2015

Price : $22
SiteLock