In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain. The purchase price allocation included the following items: $6 million, patent; $5 million, trademark considered to have an indefinite useful life; and $8 million, goodwill. Burger Mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. What is the total amount of amortization expense that would appear in Burger Mania's income statement for the first year ended December 31 related to these items
Answers: 1
Another question on Business
Business, 21.06.2019 19:00
Danielle enjoy working as in certified public accountant (cpa) and assisting small business and individuals with managing their financial and taxes . which general area of accounting is her specialty ?
Answers: 1
Business, 22.06.2019 15:20
Sauer food company has decided to buy a new computer system with an expected life of three years. the cost is $440,000. the company can borrow $440,000 for three years at 14 percent annual interest or for one year at 12 percent annual interest. assume interest is paid in full at the end of each year. a. how much would sauer food company save in interest over the three-year life of the computer system if the one-year loan is utilized and the loan is rolled over (reborrowed) each year at the same 12 percent rate? compare this to the 14 percent three-year loan.
Answers: 3
Business, 22.06.2019 19:40
Which term describes an alternative to car buying where monthly payments are paid for a specific period of time, after which the vehicle is returned to the dealership or bought? a. car financing b. car maintenance c. car leasing d. car ownership
Answers: 3
Business, 23.06.2019 01:30
What happens when the government finances a job creation project through taxes and borrowing?
Answers: 3
You know the right answer?
In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain...
Questions
Mathematics, 18.02.2020 05:12
Biology, 18.02.2020 05:12
History, 18.02.2020 05:12
History, 18.02.2020 05:12
