Discover answers to your most pressing questions at Westonci.ca, the ultimate Q&A platform that connects you with expert solutions. Get immediate and reliable answers to your questions from a community of experienced experts on our platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.
Sagot :
Answer:
Original Cost = $26.10
Annual Amortization (Old) = $26.10 / 9 years
Annual Amortization (Old) = $2.9 million
Amortization till Date (2017 - 2021) = $2.9*4 = $11.6 million
Unamortized Value = $26.10 million - $11.6 million
Unamortized Value = $14.5 million
Remaining Life = 6 - 4
Remaining Life = 2 Years
New Amortization = Unamortized Value/Remaining Life
New Amortization = $14.5/2
New Amortization = $7.25 million
Journal Entry
Amortization Expense Debit - $7.25 million
Patent Credit - $7.25 million
Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.