Reference no: EM132680918
During 2018, Matsumura Ltd. spent ¥170,000 in research costs. As a result, a new product called the New Age Piano was patented. The patent was obtained on October 1, 2018, and had a legal life of 20 years and a useful life of 10 years. Legal costs of ¥24,000 related to the patent were incurred as of October 1, 2018. (Amounts are in thousands.)
Instructions
Problem a. journal entries required in 2018 and 2019 as a result of the transactions above
Problem b. On June 1, 2020, Matsumura spent ¥12,400 to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to 12 years from June 1, 2020. journal entries required in 2020 and 2021.
Problem c. In 2022, Matsumura determined that a competitor's product would make the New Age Piano obsolete and the patent worthless by December 31, 2023. journal entries required in 2022 and 2023.
|
Determine the fixed overhead production-volume variance
: Determine the fixed overhead production-volume variance for January. All Clean of Alberta manufactures individual shampoos for hotel/motel clientele.
|
|
Identify categories of variables that may affect performance
: Raymond Baker is J.P. Reynolds Investments' district sales manager for the Southeastern Region (covering Florida, Georgia, South Carolina, Tennessee.
|
|
Prepare depreciation schedules for the units-of-activity
: Prepare depreciation schedules for the Units-of-Activity methods. RFL Company purchases a factory machine at a cost of $18,000 on January 1, 2017.
|
|
Find what is preference dividends payable
: Find what is Preference Dividends payable? Dividends on these shares are paid six monthly on the first day of October and April each year.
|
|
Journal entries required as a result of the transactions
: Competitor's product would make the New Age Piano obsolete and the patent worthless by December 31, 2023. journal entries required in 2022 and 2023.
|
|
Determine appropriate accounting for possible circumstances
: You may need to account for this situation. Determine the appropriate accounting for all possible circumstances, citing ASC where appropriate.
|
|
Describe the national labor relations act
: Introduction. In this section, describe (1) the purpose of the paper, and (2) the upcoming sections of the paper. Provide a thesis statement.
|
|
What amount of net inventory on consignment remains
: At the end of the year,What amount of net inventory on consignment remains on the balance sheet for the first year for EG Co.?
|
|
Find cost of sales was for warlock co
: What WARLOCK's 2016 Cost of Sales was? Freight-in 5,000 Transportation to Consignees 2,500 Freight-out 15,000 4,000 Ending Inventory 72,500 10,000
|