Carrying value of patent. Sisco Co. purchased a patent from Thornton Co. for $620,000 on July 1,
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Carrying value of patent.
Sisco Co. purchased a patent from Thornton Co. for $620,000 on July 1, 2012. Expenditures of $119,000 for successful litigation in defense of the patent were paid on July 1, 2015. Sisco estimates that the useful life of the patent will be 20 years from the date of acquisition.
Instructions
Prepare a computation of the carrying value of the patent at December 31, 2015.
Related Book For
Intermediate Accounting
ISBN: 978-0078025839
9th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson , Wayne Thomas
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