User Account

All Pages

Determine the carrying value of the patent on december

Assignment Help Accounting Basics
Reference no: EM132576075

In January 2020, ORD Co. purchased a patent from a research institution for $550,000. The patent was estimated to have a useful life of 10 years and a remaining legal life of 15 years. In late December 2021, ORD Co. defended the patent in legal proceedings and successfully retained rights of ownership of the patent. The estimated life of the patent did not change from its original estimate. Legal expenses were $44,000.

Question 1: Determine the carrying value of the patent on December 31, 2021

Reference no: EM132576075

Questions Cloud

At what amount should the patent be reported on the december : At what amount should the patent be reported on the December 31, 2020 statement of financial position, assuming monthly straight-line amortization of patents
Evidence based medicine and clinical practice guidelines : Assignment: Write a three to four page mini paper regarding the following:
Determine the amount of goodwill impairment loss : Determine the amount of goodwill impairment loss (if any) on December 31, 2020. Assume no impairment losses were recognized on goodwill in prior periods.
Record the journal entry on the date of the transaction : Sand paid Beach Company $450,000 for the exclusive right to market a particular product, Record the journal entry on the date of the transaction
Determine the carrying value of the patent on december : Determine the carrying value of the patent on December 31, 2021.In January 2020, ORD Co. purchased a patent from a research institution for $550,000.
How much did zab pay to purchase the net assets of yxw : How much did ZAB pay to purchase the net assets of YXW? Amounts recorded by ZAB related to the acquisition included current assets of $80,000
Prepare the entries on the books of Recharge to record : Recharge Ltd. purchased a patent on January 1, 2020, for $ 1,120,000. Prepare the entries on the books of Recharge to record
MKT00720 Marketing Assignment : MKT00720 Marketing Assignment Help and Solution, Southern Cross University - Assessment Writing Service - explore your capacity to analyse the marketing
Find what is the book value of the asset on december : Find What is the book value of the asset on December 31, 2022? The cost of the asset was 140,000, with an estimated useful life of 8 years

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd