9) Compute the total carrying amount of tones’ patents on its December 31, 2014, balance sheet. 10) Presented below is information related to copyrights owned by Walter de la Mare Company at December 31, 2014. Assume that Walter de la Mare Company will continue to use this copyright in the future. As of December 31, 2014, the copyright is estimated to have a remaining useul life of 10 years. 11) Prepare the journal entry( if any) to record the impairment of the asset at December 31, 2014. The company does not use accumulated amortization accounts. 12) Prepare the journal entry to record amortization expense for 2015 related to the copyrights. 13) The fair value of the copyright at December 31, 2015, is $ 3, 20,000. Prepare journal entry( if any) necessary to record the increase in fair value. 14) During 2012, Robin Wright Tool Company purchased a building site for its proposed research and development laboratory at a cost of $ 60,000. Construction of the building was started in 2012. The building was completed on December 31, 2013, at a cost of $ 320,000 and was placed in service on January 2, 2014. The estimated useful life of the building for depreciation purposes was 20 years. The straight-line method of depreciation was to be employed, and there was no estimated residual value. Management estimates that about 50 % of the projects of the research and development group will result in long-term benefits( i. e., at least 10 years) to the corporation. The remaining projects and the direct costs incurred in conjunction with the research and development activities for 2014 appears below. Upon recommendation of the research and development group, Robin Wright Tool Company acquired a patent for manufacturing rights at a cost of $ 88,000. The patent was acquired on April 1, 2013, and has an economic life 10 years. If generally accepted accounting principles were followed, how would the item above relating to research and development activities be reported on the following financial statements? 15) All of the following are key similarities between GAAP and IFRS with respect to accounting for intangible assets except: 16) Research and development costs are: