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Purchase of the hartford company on july 1

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Reference no: EM132419892

Springer Company had three intangible assets at the end of 2017 (end of the accounting year):

a. A copyright purchased on January 1, 2017, for a cash cost of $16,400. The copyright is expected to have a 10-year useful life to Springer.

b. Goodwill of $84,000 from the purchase of the Hartford Company on July 1, 2016.

c. A patent purchased on January 1, 2016, for $70,000. The inventor had registered the patent with the U.S. Patent Office on January 1, 2012.

Reference no: EM132419892

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