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Ferry Company, was granted two patents covering plastic cartons that it had been producing and marketing profitably for the past 3 years. One patent covers the manufacturing process, and the other covers the related products. Ferry executives tell you that these patents represent the most significant breakthrough in the industry in the past 30 years. The products have been marketed under the registered trademarks Evertight, Duratainer, and Sealrite. Licenses under the patents have already been granted by your client to other manufacturers in the United States and abroad and are producing substantial royalties. On July 1, Ferry commenced patent infringement actions against several companies whose names you recognize as those of substantial and prominent competitors. Ferry's management is optimistic that these suits will result in a permanent injunction against the manufacture and sale of the infringing products as well as collection of damages for loss of profits caused by the alleged infringement. The financial vice-president has suggested that the patents be recorded at the discounted value of expected net royalty receipts. Instructions
(a). What is the meaning of "discounted value of expected net receipts"? Explain.
(B). What basis of valuation for Ferry's patents would be generally accepted in accounting? Give supporting reasons for this basis.
martinez companys relevant range of production is 7500 units to 12500 units. when it produces and sells 10000 units its
Your best friend offered you $130 for the ticket now that the team is doing well. The opportunity cost of going to the game is?
pure competition firms make economic losses, but monopolistic competitive firms make economic profits. d) pure competitors confront a perfectly elastic demand curve, while monopolistic competitive firms face a downward-sloping demand curve.
Multiple Choice questions on Accounting Fundamentals and Preparation of adjustments, adjusted trial balance, financial statements
The Morrissey Company's bonds mature in 7 years, have a par value of $1,000, and make an annual coupon payment of $70. The market interest rate for the bonds is 8.5%. What is the bond's price?
Prepare a Lease Amortization schedule for the entire lease. Prepare the journal entry to record the exercise of the Bargain Purchase Option at the end of the lease term.
Many corporations and government entities have an internal auditing function and a separate fraud investigation function either as a subunit of internal auditing or security or as a separate unit within the organization.
The estimated amount of the loss from the tornado is $ 100,000 and the related tax effect is 40 percent. Prepare final section of Fellups’s income statement, beginning with income before extraordinary items.
What income tax expense should appear on the consolidated income statement if each company files a separate return? Assume that the tax rate is 30 percent.
Determine the amount of gross profit or loss to be recognized in each of the three years using percentage of completion method.
For how much do these free assets have to be sold so that the creditors associated with Debt 2 receive exactly $170,800?
At the beginning of 2012, there was $1,600 of materials on hand. During the year, the company purchased $324,000 of materials; however it paid for only $314,000. How much inventory was requisitioned for use on jobs during 2012?
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