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1. Accounting for Patents Fields Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution. Fields does not manufacture or sell the products and processes it develops. Instead, it conducts research and develops products and processes which it patents, and then assigns the patents to manufacturers on a royalty basis. Occasionally it sells a patent. The history of Fields patent number 758-6002-1A is as follows. Fields assumed a useful life of 17 years when it received the initial precipitator patent. On January 1, 2009, it revised its useful life estimate downward to 5 remaining years. Amortization is computed for a full year if the cost is incurred prior to July 1, and no amortization for the year if the cost is incurred after June 30. The company's year ends December 31. Compute the carrying value of patent No. 758-6002-1A on each of the following dates:
(a) December 31, 2004.
(b) December 31, 2008.
(c) December 31,2011.
wayne amp compnay inc. a construction equipment manufacturer leased equipment that it manufactured to indiana
it has inventory added at three different price points during the month in question when i add the direct materials do
You are a loan officer for Great Plains of Davenport. Jason Putnam, president of J. Putnam Corporation, has left your office. He is interested in an 8-year loan to expand the company's operations. The borrowed funds would be used to purchase new e..
inventory costing methods-periodic method the following data are for the portet corporation which sells just one
beginning inventory in march consisted of 20000 units 60 percent converted and ending inventory consisted of 40000
global computer corporation manufactures its laptops in asia and sells laptops internationally. the company produces a
What was the amount of cash paid on accounts payable during the year ended December 31?
The benefits from expenditures can be planned with certainty
Prepare the entry to record the employer payroll taxes
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the towson manufacturing corporation applies overhead on the basis of machine hours. the following divisional
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