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Question - Razor Company was granted a patent for an invention on January 1, 2020. On January 1, 2022, On January 1, 2023, The costs of licensing and registration, models and drawings amounted to P255,000.
The entity paid P90,000 in successfully defending the patent in an infringement suit brought against the entity.
The entity paid P510,000 for the acquisition of a competing patent which has a remaining life of 16 years. The competing patent is intended to protect the original patent.
Required - Prepare journal entries from 2020 to 2023 to record the expenditures in connection with the patent, including the annual amortization of patent.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
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Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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