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Nieland Industries had one patent recorded on its books as of January 1, 2014. This patent had a book value of $288,000 and a remaining useful life of 8 years. During 2014, Nieland incurred research and development costs of $96,000 and brought a patent infringement suit against a competitor. On December 1, 2014, Nieland received the good news that its patent was valid and that its competitor could not use the process Nieland had patented. The company incurred $85,000 to defend this patent. At what amount should patent(s) be reported on the December 31, 2014, balance sheet, assuming monthly amortization of patents?
In spite of the ordinary shares ranking last in terms of assets sharing in the event of liquidation, they attract more investors than any other type of shares. Why do you think thi
REA diagram for (1) PEGASUS PAPER PRODUCTS and (2)PIECES BOUTIQUE
Received 10,000 contribution from bill london in exchange for common stock What 2 accounts are used
Thatcher Corporation's bonds will mature in 12 years. The bonds have a face value of $1,000 and an 11.5% coupon rate, paid semi-yearly. The price of the bonds is $1,050. The bonds
Do you have anyone on staff that understands acquisition accounting procedures?
Change in profit sharing ratio When there is a change in profit sharing ratio, it means that some of the partners will get higher profits based on the new ratios in the future wh
Much of the supply-side, fiscally conservative economic policies of Margaret Thatcher, Ronald Reagan, and even Mike Harris in Ontario were predicated on the belief that high income
Important points for holding company with subsidiary The following points are important: 1) The first approach is to determine the effective shareholding by the holding compan
evaluate the importance of leverage in financial management of a small scale company
Consider an asset that cost 100000 to acquire and has an estimated salvage value of 20000. The assets is to be depreciated over four years. At the end of four years, the asset is s
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