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Af A patont purchased this year from Milier Compary on Januacy 1 for a cash etimated life of 10 years. queh as $130.000 because it has an indefinite life. to the company. Required: 1. Compute the acquisition cost of each intangible asset. 2. Compute the amortization of each intangible for the current year ended December 31 . year: Compiate this question by entering your answers in the tabs below. Compute the acquisition cost of each intangible asset. A patent purchased this year from Miller Company on Juntary 1 tor in cosp estimated life of to yeari a A frademark was registered with the federal government for 54,500, M. much as $130 oco toeceuse it has an indefinite life. c Computer licensing rights were purchased this year on January 1 for $40,0 to the company Required: 1. Compute the acquisition cost of each intangibie asset. 2. Compute the amortization of each intangible for the current year ended December 31 3. Show how these assets and any related expenses should be reported on the balance sheet and income utatemert tor that year. Complete this question by entering your answers in the tabs below. Compute the amortization of each intangible for the current year ended December 31 . (Do not round intermed itt calculations.) A A palent purchased this year from Matic Compary on January ifor s cant entimated ate of to years. a A trademark was reglstered with the federal government for 54,500 , Maris. much as $130,000 because or has an indefinte tife. to the company Required: 1. Compute the acquisition cost of each intangible asset. 2. Compute the amortization of each intangible for the current year ended December 31 . 3. Show how these assets and any related expenses should be reported on the balance sheet and income stateritint for the samit year. Complete this question by entering your answers in the tabs below. Show how these assets and any related expenses should be reported on the income statement for the currtint veat Required: 1. Compute the acquiaition cost of each intangible asset. 2. Compute the amortizotion of each intangibie for the current year ended December 31 veac. Complete this question by entering your answers in the tabs below. Show how these assets and any related expenses should be reported on the balance shent for the curront year (Dewoctins) should be indicated by a minus sign.)

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