Chapter 9 Homework i Help Save & Exit Submit Check my work 1 Bluestone Company had three intangible assets at the end of the current year: 3 points 2. A patent purchased this year from Miller Co. on January 1 for a cash cost of 55,600. When purchased, the patent had an estimated life of 8 years. 6. A trademark was registered with the federal government for $12,500. Management estimated that the trademark could be worth as much as $290,000 because it has an indefinite lire. c. Computer licensing rights were purchased this year on January 1 for $48,000. The rights are expected to have a four-year useful life to the company Marar ances 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. Shaw how these assets and any related expenses should be reported on the balance sheet and income statement for the current year. Complete this question by entering your answers in the tabs below. Reg 2 Reg 3A Reg 3B Compute the acquisition cost of each intangible asset. Acquisition Cost Paler Trademark Licensing Rights Chapter 9 Homework Sara Help Save & Exit Submit Check my work 1 Bluestone Company had three intangible assets at the end of the current year. points A. A patent purchased this year from Miller Co. on January 1 for a cash cost of $5,600. When purchased, the patent had an estimated life of 8 years. b. A trademark was registered with the federal government for $12,500. Management estimated that the trademark could be worth as much as $290,000 because it has an indefinite life c. Computer licensing rights were purchased this year on January 1for $48,000. The rights are expected to have a four-year useful life to the company turk 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 statement for the current Complete this question entering your answers in the tabs below. Req Reg 2 Req3A Reg 3 Compute the amortization of each intangible for the current year ended December 31. (Do not round intermediate calculations.) Amortization Expenses Patent Trademark Licensing Rights Chapter 9 Homework A Help Seve & Exit Submit Check my work 1 Bluestone Company had three intangible assets at the end of the current year: 3 aints a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $5,600. When purchased, the patent had an estimated life of 3 years b. A trademark was registered with the federal government for S12,500. Management estimated that the trademark could be worth as much as $290,000 hecause it has an indefinite life. c. Computer licensing rights were purchased this year on January 1 for $48,000. The rights are expected to have a four-year useful life to the company Book Rcfcrerces 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 statement for the current :ar Complete this question entering your answers in the tabs below. Req1 Reg 2 Rea 3 Req 3B Show how these assets and any related expenses should be reported on the income statement for the current year. BLUESTONE COMPANY Income Statement (partial) For the year ending December 31 Chapter 9 Homework i Seved Help Save & Exit Submit Check my work 1 Bluestone Company had three intangible assets at the end of the current year: points a A patent purchased this year from Miller Co. on January 1 for a cash cost of $5,600. When purchased the patent had an estimated life of years. b. Atrademark was registered with the federal government for $12,500. Management estimated that the trademark could be worth as much as $290,000 because it has an indefinite life. c Computer licensing rights were purchased this year on January 1 for $48.000. The rights are expected to have a four-year useful life to the company. Ecok 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. Shaw how these assets and any related expenses should be reported on the balance sheet and incornic statement for the current year. Complete this question by entering your answers in the tabs below. Red 1 Reg 2 Rey 34 Reg 3B Show how these assets and any rclated expenses should be reported on the balance sheet for the current year. (Negative amounts should be indicated by a minus sign.) BLUESTONE COMPANY Balance sheet (partial) At December 31 Intangibles