Answer:
$50,000
Explanation:
Calculation to determine its current year amortization expense.
Using this formula
Current year amortization expense=(Copyrights /Numbers of Intangibles years)
Let plug in the formula
Current year amortization expense=($500,000/10 years)
Current year amortization expense=$50,000
Therefore its current year amortization expense will be $50,000
The current year amortization expense of the company will be $150,000. It is calculated in respect of copyright and trademark.
Amortization refers to the writing down of value of intangible assets over their useful life. Is compared to the depreciation amortization reduces the value of the intangible assets.
The assets that are subject to amortization are Trademark, copyright, patent, license and so on.
In the given question the intangible assets that are subject to amortization are Trademark and copyright. The amortization period for these asset is 10 years. Therefore the amortization expense will be some of cost of asset subject to amortization divided by the number of years.
Hence the amortization expense will be:
[tex]\rm Amortization \:expense = \dfrac{Copyright + Trademark}{10}\\\\\rm Amortization \:expense = \dfrac{\$500,000 + \$1,000,000}{10}\\\\\rm Amortization \:expense = \dfrac{ \$1,500,000}{10}\\\\\rm Amortization \:expense = \$150,000[/tex]
Therefore the amortization expense will be $150,000.
Learn more about amortization here:
https://brainly.com/question/7274714
