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Prepare the adjusting entries at december to record

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These are selected 2022 transactions.

Jan 1 purchased a copyright for $108,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years.

Jan 2 purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $51,000.

Jan 3 purchased a small company and recorded goodwill of $138,000. Its useful life is indefinite.

Question 1: Prepare the adjusting entries at December 31 to record amortization required by the events.

Reference no: EM132497018

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