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Business, 03.12.2019 23:31 lexiissmartberysmart

Xcompany purchased a patent on january 3, 2017 from y company for $145,000. an attorney drew up the contract between x & y at a total cost of $15,000, which was split equally by the parties. the patent had a carrying value of $90,000 on y’s books. x expects to be able to benefit from the patent for 10 years, after which it is expected to be of little to no value. what will be the carrying value of the patent on x company’s december 31, 2018 balance sheet?

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