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    emerald_sangria's Avatar
    emerald_sangria Posts: 7, Reputation: 1
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    #1

    Sep 30, 2013, 08:54 PM
    Amortization Entries
    Governmental and legal costs of $562,800 were incurred on June 30 in obtaining a patent with an estimated economic life of 12 years. Amortization is to be for one half year.

    Determine the amount of the amortization for the current year.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Sep 30, 2013, 09:48 PM
    Just take your costs of $562,800 and divide it by 12 years to get your amortization per year, then divide this number by 2 to get a half year of amortization.
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