Solved: What is bethany amortization expense for the current year, Accounting Basics

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What is bethany amortization expense for the current year

Question - Assume that Bethany acquires a competitor's assets on March 31st. The purchase price was $150,000. Of that amount, $125,000 is allocated to tangible assets and $25,000 is allocated to goodwill (a section 197 intangible assset). What is Bethany' amortization expense for the current year, rounded to the nearest whole dollar?

A) 0

B) $1250

C) $1319

D) $1389

E) None of the above

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Accounting Basics: What is bethany amortization expense for the current year

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