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Innovative Technologies, Inc. incurred research and development costs of $150,000 and legal fees of $42,000 to acquire a patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Innovative Technologies record as Patent Amortization Expense in the first year?
Kestral's accountant mistakenly assumed considerable influence and used the equity method instead of the cost method. What is the impact on the investment account and net earnings, respectively?
assume a nike outlet store began in august 20x0 with 40 pairsof running shoes that cost the store 40 each. the sale
murri corporation has an activity-based costing system with three activity cost pools-processingsupervising and
on february 1 2010 the balance of the retained earnings account of blue power corp. was 630000. revenues for feb.
A new employee suggests that RedEx sponsor a company softball team as a form of advertising. The cost to sponsor the team is $1,792. How many more units must be sold to cover this cost?
The higher the interest rate the lower the present value of a future amount. Why?
crypton electronics has a capital structure consisting of 36 common stock and 64 dept. a dept issue of 1000 par value
Marsha Moore gave property with an adjusted basis of $28,000 to Alfred when the fair market value of the property was $25,000. Gift taxes paid on the property were $3,000. What is Alfred's basis for gain? what is his basis for loss?
Assume that you and two friends are debating whether to open an automotive and service retail chain that will be called Auto-Mart. Initially, Auto-Mart will open three stores locally.
an analysis of the general ledger accounts indicates that office equipment which cost 67000 and on which accumulated
On May 1, Battery, Inc. factored $800,000 of accounts receivable with Quick Finance on a without recourse basis. Under the arrangement, Battery was to handle disputes concerning service, and Quick Finance was to make the collections
Short Corporation purchased Hathaway, Inc. for $52,000,000. The fair value of all Hathaway's identifiable tangible and intangible assets was $48,000,000. Short will amortize any goodwill over the maximum number of years allowed. What is the annual..
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