Assume That Bethany Acquires a Competitor's Assets on March 31^st

question 32

Multiple Choice

Assume that Bethany acquires a competitor's assets on March 31^st. The purchase price was $150,000. Of that amount, $125,000 is allocated to tangible assets and $25,000 is allocated to goodwill (a §197 intangible asset) . What is Bethany's amortization expense for the current year, rounded to the nearest whole number?

• A) $0
• B) $1,250
• C) $1,319
• D)$1,389
• E)None of these

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