Solution-What is the total amount of expenses

What is the total amount of expenses

Reference no: EM13342892

On June 28 Lexicon Corporation acquired 100% of the common stock of Gulf & Eastern. The purchase price allocation included the following items: $4 million, patent; $3 million, developed technology; $2 million, in-process research and development; $5 million, goodwill. Lexicon's policy is to amortize intangible assets using the straight-line method, no residual value, and a five-year useful life. What is the total amount of expenses (ignoring taxes) that would appear in Lexicon's income statement for the year ended December 31 related to these items?

Reference no: EM13342892

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What is the total amount of expenses : What is the total amount of expenses (ignoring taxes) that would appear in Lexicon's income statement for the year ended December 31 related to these items?

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What is the total amount of expenses

Reference no: EM13342892

Reference no: EM13342892

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