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Kow-Pow Company purchased an intangible asset for $180,000 on May 1, 2017. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2019

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Tundexi

Answer:

Amortization Expenses =  $48,000

Explanation:

Amortization Expenses = $180,000/10 years = $18,000

May 2017                        =   $12,000  ($18,000 *8/12)

December 2018             =   $18,000

December 2019             =   $18,000

Amortization Expenses =  $48,000

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