In early January 2024, Marigold Corporation applied for a trade name, incurring legal costs of...
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Accounting
In early January 2024, Marigold Corporation applied for a trade name, incurring legal costs of $16,000. In January 2025, Marigold incurred $6,300 of legal fees in a successful defense of its trade name.
(a)
Compute 2024 amortization, 12/31/24 book value, 2025 amortization, and 12/31/25 book value if the company amortizes the trade name over 10 years. (Round answers to 0 decimal places, e.g. 5,125.)
2024 amortization
$enter a dollar amount rounded to 0 decimal places
12/31/24 book value
$enter a dollar amount rounded to 0 decimal places
2025 amortization
$enter a dollar amount rounded to 0 decimal places
12/31/25 book value
$enter a dollar amount rounded to 0 decimal places
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