In 2017 an investor purchased 40% of a investees equity for 1,100,000 and the excess was a patent with a fair value of 250,000 and it also has a 10 year useful life. In 2018 the percentage reduces to 32% due to the investor selling some of its investment. 

What is the amortization of the patent asset in year 2017 and 2018?

Answer rating: 100% (QA)

Amortization of Patent Asset Given Investment cost in 2017 1100000 Percentage ownership in 2017 40 F... View the full answer