accounting

Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite.
May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years and a legal life of 20 years

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asked by stacey

  1. And the question is? If you tried to "cut and paste" it won't work here so you'll need to type the rest out.

    Sra

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    posted by SraJMcGin

  2. jan 1 purchased a small company and recorded goodwill of $170,000.its useful life is indefinite.
    may 1 Purchased for $90,000 a patent with an estimated useful life of 5 years and a legal life

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    posted by Roman

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