Bluestone Company had three intangible assets at the end of the current year: a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $3,600. When purchased, the patent had an estimated life of 12 years.
b. A trademark was registered with the federal government for $8,000. Management estimated that the trademark could be worth as much as $200,000 because it has an indefinite life.
c. Computer licensing rights were purchased this year on January 1 for $90,000. The rights are expected to have a six-year useful life to the company.

Required:
a. Compute the acquisition cost of each intangible asset.
b. Compute the amortization of each intangible for the current year ended December 31.
c. Show how these assets and any related expenses should be reported on the balance sheet and income statement for the current year.

Ida sidha karya company is a family-owned company located in the village of gianyar on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $850. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 250 units sold 225 units in ending inventory

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Last week paul, ceo of quality furniture in south carolina, traveled to europe to visit customers. while overseas, paul checked his e-mail daily and showed his company's website to customers, explaining how the website will them place orders and receive merchandise more quickly. after visiting the last customer friday morning, paul was able to return to the corporate office in south carolina to meet with his board of directors that night. is the "shrinking" of time and space with air travel and electronic media.