Page 484 - Accounting Principles (A Business Perspective)
P. 484
11. Plant asset disposals, natural resources, and intangible assets
Since all of the ore that was extracted was sold, all of the USD 30,000 is expensed as cost of ore sold.
b. The patent is amortized over 10 years:
USD 36,000
Annual amortization expense=
10
= USD 3,600
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