What is the total amount of amortization expense that would

Assignment Help Accounting Basics

Reference no: EM13483262

In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain. The purchase price allocation included the following items: $4.2 million, patent; $2.8 million, trademark considered to have an indefinite useful life; and $6.8 million, goodwill. Burger Mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life.

What is the total amount of amortization expense that would appear in Burger Mania's consolidated income statement for the first year ended December 31 related to these items? (Enter your answer in whole dollars.)

Reference no: EM13483262

Questions Cloud

Ernings rate of your retirement portfolio is 6 per year : earnings rate of your retirement portfolio is 6 per year. ? you will receive an annual raise on your salary of 3 per

The saunders investment bank has the following financing : the saunders investment bank has the following financing outstanding. what is the wacc for the company? debt 40000

Forest outfitters is a retailer that is preparing its : forest outfitters is a retailer that is preparing its budget for the upcoming fiscal year. management has prepared the

What is the net operating profit after taxes nopat for 2002 : you have just obtained financial information for the past 2 years for powell panther corporation. answer the following

What is the total amount of amortization expense that would : in early january burger mania acquired 100 of the common stock of the crispy taco restaurant chain. the purchase price

El tapitio purchased restaurant furniture on september 1 : el tapitio purchased restaurant furniture on september 1 2012 for 36400. residual value at the end of an estimated

Repair of damage incurred in reconditioning the press a : carl warren tina chester owns and operates pinebush print co. during september pinebrush print co. incurred the

Calculate depreciation expense using the activity-based : asty subs acquired a delivery truck on october 1 2012 for 19850. the company estimates a residual value of 7550 and a

Calculate depreciation expense of the equipment for the : super saver groceries purchased store equipment for 36000. super saver estimates that at the end of its 12-year service

User Account

All Pages