Determine amount moxie should recognize as research

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Reference no: EM13144885

Moxie Corporation incurs research and development costs of $500,000 in 2011, 30 percent of which relates to development activities subsequent to certain criteria having been met that suggest that an intangible asset has been created. The newly developed product is brought to market in January 2012 and is expected to generate sales revenue for 10 years. Determine the amount Moxie should recognize as research and development expense in 2011 under GAAP.

Reference no: EM13144885

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