Calculate amortization - carrying amount at december

Assignment Help Accounting Basics
Reference no: EM131764747

Question: Trademarks

In early January 2017, Crawford Corporation applied for and received approval for a trade name, incurring legal costs of $50,400. In January 2018, Crawford incurred $22,050 of legal fees in a successful defence of its trade name.

Required: (round all answers to 0 decimal place)

a) Calculate amortization for 2017; carrying amount at December 31, 2017; amortization for 2018; and carrying amount at December 31, 2018, if the company amortizes the trade name over its 16-year legal life.

b) Calculate amortization for 2017; carrying amount at December 31, 2017; amortization for 2018; and carrying amount at December 31, 2018, if the company amortizes the trade name over a useful life of 5 years.

Reference no: EM131764747

Questions Cloud

Examine critical issues related to business and management : MGMT20144 - examine critical issues related to business and management context. The purpose of the task is to assist you in gaining a greater understanding
How can i plan for sustainable work-life balance in my life : "How can I plan for sustainable work-life balance in my life and prioritize what really matters?"
Carefully identify every product or service you offer : Define your product or service: Carefully identify every product or service you offer. Some products or services can be broken into pieces and priced separately
Discuss cash received for service rendered for months was : Owner withdrew 1,400 from the company. It needs to go on t acct please help me what t acct they go to and debit or credit side
Calculate amortization - carrying amount at december : Calculate amortization for 2017; carrying amount at December 31, 2017; amortization for 2018; and carrying amount at December 31, 2018
Skill in professional communication have strengthened : List two areas where you feel your understanding or skill in professional communication have strengthened.
Calculate the cost of the ending inventory : Apply the retail method to the following information and calculate the cost of the ending inventory
Discuss concepts are important to financial statements : expand on the definition as given in the Module background. Explain why these concepts are important to financial statements
What advantages or disadvantages do waveforms have : Arbitrary-Waveform Driver: By weighting the taps non-uniformly on a segmented current-source driver, an arbitrary rising-edge (or falling edge) waveform.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd