Question: Complete the chart for the first 5 years and record all the necessary entries for Year 1 and Year 2 in relation to the patent

Complete the chart for the first 5 years and record all the necessary entries for Year 1 and Year 2 in relation to the patent and thetrademark in the accounting records. how to calc acc dep

Complete the chart for the first 5 years and
UR Printing Company purchased a patent for a new laser printer for $1,485,000 on April 1, Year 1, for $1,000,000 cash and a bank loan for the remaining balance. The patent has a legal life of 20 years but the company believes that newer and better technology for printers will be developed in the next 15 years. The company uses the straight line method to record depreciation. At the same time the company opened a new location in Toronto and registered a trademark for the new location's name, "PrintU", on June 1, Year 1. It paid cash of $7,500 to register the new name with the Canadian government and $2,500 to the lawyer who registered the trademark

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