On September 30,2016,Morgan,Inc

question 70

Essay

On September 30,2016,Morgan,Inc.acquired all of the outstanding common stock of Pathways,Inc. ,for $100 million.In addition to tangible assets,Morgan recorded the following assets as a result of the acquisition:
Morgan's policy is to amortize intangible assets using the straight-line method,no residual value,and a six-year useful life.
Required:
What is the total amount of expenses that would appear in Morgan's income statement for the year ended December 31,2016,related to these items?

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Definitions:

Per Diem

A daily allowance for expenses, often provided to employees for the days they work away from the office or on business travel.

Accountants

Professionals who manage financial transactions, records, and statements for individuals or businesses, ensuring accuracy and compliance with legal requirements.

Human-Resources

The division of a business or organization that deals with hiring, training, and managing personnel.

Euphemism

A gentle or oblique term used in place of another that is deemed too direct or crude, particularly for discussing something uncomfortable or shameful.