What was the patents acquisition cost

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Reference no: EM132474732

Question 1. How much amortization expense was recorded during 2017?

Question 2. What was the patent's acquisition cost? When was it acquired? What is its estimated useful life? How was the acquisition of the patent reported on that year's statement of cash flows?

Question 3. Assume that Quickster uses the indirect method to prepare its statement of cash flows. How is the amortization of the patent reported annually on the statement of cash flows?

Question 4. How would the sale of the patent on January 1, 2018, for $1,700,000 be reported on the 2018 statement of cash flows?

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Reference no: EM132474732

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