On january 1, 2019, charlie corporation acquires all of the net assets of rocky corporation for $2,000,000. the following intangible assets are included in the purchase agreement: assets acquisition cost goodwill and going concern value $105,000 licenses $ 45,000 patents $ 60,000 covenant not to compete for five years $120,000 what is the total amount of amortization allowed in 2019? .

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  HELP ME Explanation:

Amortization allowed in 2019 = ($2,000,000 - $105,000 - $45,000 - $60,000 - $120,000) / (5)

                                                = $334,000

Explanation:

In accounting, amortization refers to expensing the acquisition cost minus the residual value of intangible assets in a systematic manner over their estimated "useful economic lives" so as to reflect their consumption, expiry, and obsolescence, or other decline in value as a result of use or the passage of time.

https://en.wikipedia.org/wiki/Amortization_(business)

odd consecutive integers are odd integers that follow each other. they have a difference of 2 between every two numbers. if n is an odd integer, then n, n+2, n+4 and n+6 will be odd consecutive integers. the first number in the pattern is always the variable on its own or in this case, "n". examples.