Question: please help when I check my work it says this part is wrong and incomplete Bluestone Company had three intangible assets at the end of


please help when I check my work it says this part is wrong and incomplete
Bluestone Company had three intangible assets at the end of the current year: a. A patent purchased this year from Miller Company on January 1 for a cash cost of $2,700. When purchased, the patent had an estimated life of 9 years. b. A trademark was registered with the federal government for $5.500. Management estimated that the traclemark could be worth as much as $150,000 because it has an indefinite life. c. Computer ilicensing rights were purchased this year on January 1 for $50,000. The rights are expected to have a five-year useful life to the company. 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 statemrent for the current year. Complete this question by entering your answers in the tabs below. Show how these assets and any related expenses should be reported on the balance sheet for the current year. (Deductions should be indicated by a minus sign.)
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