Explore BrainMass

Pendergrass Company: amortize patent over legal life?

Pendergrass Company hires an accounting intern who says that intangible assets should always be amortized over their legal lives. Is the intern correct?

Solution Summary

Your tutorial is 262 words plus a reference that explains the amortization life for intangibles and gives an example to illustrate. A quote from the FASB codification is given.