Answer to Question #234282 in Accounting for Kemj

Question

Harmonious Company acquired a patent for a drug with a remaining legal and useful life of sixyears on January 1,2014 for P5,400,000.On January 1, 2016, a new patent is received for an improved version of the same drug. The new patent has a legal and useful life of twenty years.

 

What is the amortization expense for 2016?

a. 900,000

b. 200,00

c. 180,00

d. 300,000

Answer 1

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