Jones Computer Company acquired patent rights on January 2, 20Y8, for $2,000,000. The patent has a...

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Jones Computer Company acquired patent rights on January 2, 20Y8, for $2,000,000. The patent has a useful life of 10 years. On Jan 2, 20Y9, Dovetail Technologies successfully defended the patent in a lawsult at a cost of $180,000. 1. Determine the patent amortization expense for the current year ended December 31, 20Y9. $ 2. Illustrate the effects on the Accounting Equation: Show the effects of purchasing the patents, the depreciation for 20Y8, and the depreciation for 20Y9 to include the lawsuit. • Account names to use: Amortization Expense, Cash, Patents, . Start at the dates in the table. Jones Computer Company acquired patent rights on January 2, 20Y8, for $2,000,000. The patent has a useful life of 10 years. On Jan 2, 20Y9, Dovetail Technologies successfully defended the patent in a lawsult at a cost of $180,000. 1. Determine the patent amortization expense for the current year ended December 31, 20Y9. $ 2. Illustrate the effects on the Accounting Equation: Show the effects of purchasing the patents, the depreciation for 20Y8, and the depreciation for 20Y9 to include the lawsuit. • Account names to use: Amortization Expense, Cash, Patents, . Start at the dates in the table.

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