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What would be the entries that Alpha would make

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Question - Alpha owns 100% of the stock in Omega. On January 1, Year 1, Alpha owns a patent with a cost of $20 million, and accumulated amortization of $5 million. It has 10 more years of expected useful life. Alpha uses the equity method for accounting for investments.

What would be the entries that Alpha would make in year 1 and 2 for this patent, if it continues to own it? Give two entries, one for each year.

Reference no: EM132500067

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