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Posted: November 15th, 2023

Amortization Assignment

In early January 2016, Pina Corporation applied for a trading name, incurring legal costs of $16,440. In January 2017, Pina incurred $8,240 of legal fees in a successful defense of its trade name.

Compute 2016 amortization, 12/31/16 book value, 2017 amortization, and 12/31/17 book value if the company amortizes the trade name over 10 years. (Round all answers to 0 decimal places, e.g. 8,564)

2016 amortization		$
12/31/16 book value		$
2017 amortization		$
12/31/17 book value		$

Compute the 2017 amortization and the 12/31/17 book value, assuming that at the beginning of 2017, Pina determines that the trade name will provide no future benefits beyond December 31, 2020.

2017 amortization		$
12/31/17 book value		$

Ignoring the response for part (b), compute the 2018 amortization and the 12/31/18 book value, assuming that at the beginning of 2018, based on new market research, Pina determines that the fair value of the trade name is $15,280. The estimated total future cash flows from the trade name is $16,480 on January 3, 2018.

2018 amortization		$
12/31/18 book value		$

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