Answer
The research and marketing costs should be expensed in the periods incurred, while the legal fees should be capitalized and amortized over the useful life of the asset.
Work Step by Step
As summarized above.
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: 9
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