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Calculate amortization and carrying amount at december

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In early January 2020, FJS Corporation applied for and received approval for a trade name, incurring legal costs of $52,500. In early January 2021, FJS incurred $28,200 in legal fees in a successful defence of its trade name.

Question 1: Calculate amortization for 2020; carrying amount at December 31, 2020; amortization for 2021; and carrying amount at December 31, 2021, if the company amortizes the trade name over its 15-year legal life. (Round answers to 0 decimal places, e.g. 5,275.)

Reference no: EM132577961

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