Determining Carrying Value and Amortization of Intangible Assets Review the following information pertaining to Denzel...
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Accounting
Determining Carrying Value and Amortization of Intangible Assets
Review the following information pertaining to Denzel Company.
On January of Year Denzel Company purchased a second patent for $ cash. At January of Year a total of years of the patent's legal life of years had expired.
On June of Year Denzel Company paid a firm $ for a new trademark. Denzel considers the life of the trademark to be indefinite.
Required
a What is the carrying value of each intangible asset on December of Year Assume no impairment losses were recognized in prior periods.
b What is amortization expense for Year
Note: When answering the following questions, do not round until your final answer. Round your final answer to the nearest whole number.
a
b Amortization expense, Year $
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