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Questions -
Q1. Sunland Co. acquires 3 patents from Shaq Corp. for a total of $390000. The patents were carried on Shaq's books as follows: Patent AA: $5400; Patent BB: $1550; and Patent CC: $2700. When Sunland acquired the patents their fair values were: Patent AA: $20000; Patent BB: $210000; and Patent CC: $50000. At what amount should Sunland record Patent BB?
$292500
$260000
$1550
$130000
Q2. On January 1, 2014, Blossom Company purchased a copyright for $2468000, having an estimated useful life of 16 years. In January 2018, Blossom paid $351000 for legal fees in a successful defense of the copyright. Copyright amortization expense for the year ended December 31, 2018, should be
$154250.
$183500.
$0.
$176188.
Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares
glaser health products of ranier falls georgia is organized functionally into three divisions operations sales and
Describe the company's established arrangements
In addition, visit each company's website and conduct research to identify key strategies that each company has. List a brief introduction of each company, to include the Mission Statement and compare key aspects of each company.
What are irregular items on the income statement? How are irregular items presented on the income statement
In which of the following cases should the employees report the benefit received as gross income?
What is the net realizable value of the accounts receivable at December 31,2013?
The T&M company wants to expand internationally. The marketing department suggests starting with specialty stores in Italy since a survey indicates that American quality towels are appreciated in Italy. The current price is about 20% higher than c..
Briefly explain the depreciation and impairment process in relation to approximating the fair value of fixed assets?
Sigfried Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10%, one-year note payable. Prepare the journal entry to record the proceeds of the note.
Prepare a budget comparing operating in the new plant versus continuing operations in the existing plant
The following items, in alphabetical order, are available from the records of Quinn Corporation as of December 31, 2014 and 2013:
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