On May 1, 2021, Lincoln Company bought a patent at a cost of $6,120. It is estimated
Question:
On May 1, 2021, Lincoln Company bought a patent at a cost of $6,120. It is estimated that the patent will give Lincoln a competitive advantage for 6 years. Record in general journal form amortization for 2021 and 2022. (Assume December 31 is the end of the accounting period for Lincoln.)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
2021 Dec 31 Amortization ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
2+ Reviews
10+ Question Solved
Related Book For 
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
Question Posted:
