The dwyer corporation incurred costs of 114000 in, Ask an Expert

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the Dwyer corporation incurred costs of 114000 in purchasing a process which it eventually had patented. The patent was issued on July 20x1. To secure the patent, an additional 6000 had been spent on legal fees. On June 30 20x3, a patent infringement suit was successfully defended at a cost of 10000. The legal cost of 10000 is amortized over the remaining life of the patent (which for this case is 17 years).

What would the amortization expense applicable to the patent for 20x2 be.
a) 7058.82
b) 6705.88
c)3529.41
d)352.94

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Accounting Basics, Accounting

Category:- Accounting Basics
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