Ask Question
9 November, 13:30

Bethany incurred $20,000 in research and experimental costs for developing a specialized product during July of year 1. Bethany went through a lot of trouble and spent $10,000 in legal fees to receive a patent for the product in August of year 3. Bethany expects the patent to have a remaining useful life of 10 years. (Do not round intermediate calculations.) a. What amount of research and experimental expenses for year 1, year 2, and year 3 may Bethany deduct if she elects to amortize the expenses over 60 months? (Round your final an

+4
Answers (1)
  1. 9 November, 13:49
    0
    Total Research Spending = $20,000 + $10,000 = $30,000

    Amortization Rate = 1/5years = 20%

    Expense in Year 1, 2 and 3 = $30,000 X 20% = $6,000 Each year
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Bethany incurred $20,000 in research and experimental costs for developing a specialized product during July of year 1. Bethany went ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers