AFTER ANSWRING QUESTION A PLEASE MAKE SIRE TO ALSO ANSWER B WHICH IS COMPUTE THE TOTAL CARRYING AMOUNT OF PINAS PATENTS ON ITS DECEMBER BALANCE SHEET'
tablePatent Item,Initial Cost,Date Acquired,Useful Life at Date AcquiredPatent A$ yearsPatent B$ yearsPatent C$ years
The following events occurred during the year ended December
Research and development costs of $ were incurred during the year.
Patent D was purchased on July for $ This patent has a useful life of years.
As a result of reduced demands for certain products protected by Patent B a possible impairment of Patent Bs value may have occurred at December The controller for Kingbird estimates the expected future cash flows from Patent B will be as follows.
tableYeartableExpected FutureCash Flows$
