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What is intellectual property? Why is it called "intellectual" property? Why is intellectual property such an important issue for entrepreneurial firms?
Identify and briefly describe the three types of patents.
What is a trademark? Why are trademarks important?
What is a copyright? What is protected by a copyright?
For eaqch of the folowing expenditures, indiacte the type of account in which the expenditure should be recorded. Explain your answers.
How does the United States tax Erica's activities? How would your answer change if Erica were a self-employed technician rather than an employee?
Mikor has an account payable of 7,700$ due to Smiley Inc. one of its suppliers. The amount was due to be paid on October 15, 2007. Use the horizontal model, or write the journal entry to show the effect of :
Daggar capitalizes the lease, whereas Bayshore records the lease as an operating lease. Both firms depreciate assets by the straight-line method, and both treat the lease as an operating lease for federal income tax purposes.
Prepare a statement of cash flows for the year 2010 for Aero Inc.
Depreciation for the first 9 months of 2010 is $6,000. Prepare the journal entries to (a) update depreciation to September 30, 2010 and (b) record the sale of the equipment.
Casso limited has an option to purchase new car for the use froma bank on loan for Rs. 100,000 with 16% interest payable. Find which option is more suitable for the company.
Analyze the tax implications for the following case study. Apply the IRS codes to determine itemized deductions for individuals. Support your conclusions with reference to specific IRS codes and regulations.
Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2011, assuming that the bonds sold at 104.
For the current year ending April 30, Hal Company expects fixed costs of $60,000, a unit variable cost of $70, and a unit selling price of $105.(a) Compute the anticipated break-even sales (units).(b) Compute the sales (units) required to realize ..
Scobie Corporation's fixed monthly expenses are $16,000 and its contribution margin ratio is 57%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $69..
O'Bria Service Company purchased a copier on January 1, 2012, for $17,000 and paid an additional $200 for delivery charges. The copier was estimated to have a life of four years or 800,000 copies.
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