Answer
The amount to be amortized is = 350,000/10 = 35,000.
Work Step by Step
If the amount to be amortized cannot be reliably determined, we use straight line method: (Cost-Salvage value)/Useful life.
Intermediate Accounting (16th Edition)
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
1118743202
ISBN 13:
978-1-11874-320-1
Chapter 12 - Intangible Assets - Review and Practice - Questions - Page 637: 10
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