Samson Distributing Purchased a Patent at a Cost of $45,000

question 87

Essay

Samson Distributing purchased a patent at a cost of $45,000 on June 30, 2019. It is estimated the the patent has a remaining useful life of 4 years in spite of the fact that the patent will expire in 6 years from the date of purchase. Samson has a December year end.
Record the amortization for 2019 for the patent.

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Definitions:

Research Design

The framework or plan for a study used as a guide in collecting and analyzing data.

Naturalistic Observation

A research method where subjects are observed in their natural environment without any intervention from the observer.

Low Self-Esteem

A condition where an individual holds a poor perception or evaluation of their self-worth.

Depression

A common and serious medical illness that negatively affects how you feel, the way you think, and how you act. It causes feelings of sadness and/or a loss of interest in activities once enjoyed.