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The hughes company applied for a tradename

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Reference no: EM13865952

On January 11, 2010, the Hughes Company applied for a tradename. Legal costs associated with the application were $20,000. In January 2011, the company incurred $8,000 of legal fees in a successful defense of its tradename. The tradename was not impaired in 2010 and 2011.
Required:
Compute the ending carrying value of the tradename for 2010 and 2011. Should the company amortize the tradename?

Reference no: EM13865952

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