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Question - In 20x1, G Co. started to develop a patent. Total costs incurred during the year amounting to P400,000. On January 1, 20x2, the patent was fully developed. Legal and registration cost incurred in registering the patent amounted to P300,000. It was estimated that the patent has a useful life of 25 years. In 20x4, G Co. started to develop a new improved patent to extend the life of the old patent. Development costs totaled P800,000. On January 1, 20x5, the new patent was completed and legal and registration costs incurred to register the new patent amounted to P320,000. It was estimated that the new patent will extend the life of the old patent by another 20 years starting January 1, 20x5. How much is the amortisation expense in 20x5?
Which of the following refers to the tendency to see one's own personal traits in other people?
Prepare the journal entries to revalue the truck on December 31, 2017, assuming Concord uses the asset adjustment method
Prepare consolidated financial statements. Record all journal entries in the records of Frasier Ltd in relation to its investment in Niles Ltd during
What companies use this approach? Describe any Web sites you found that measure TCO.
blanchard company manufactures a single product that sells for 140 per unit and whose total variable costs are 112 per
1. out of africa a multi-national corporation had a very successful year. the board of directors declared and paid a
At the end of 2011, Tatum Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $28,000. On January 24, 2012, it is learned that the company's receivable from Novinger Inc-Make the journal entries to record the payment.
In 2010 Acme Construction Company won the contract to construct an office building at a contract price of $1,200,000. Compute the Gross Profit recognized
Sheffield Inc., a greeting card company, had following statements prepared as of December 31, 2017. Prepare a statement of cash flows using the indirect method
Using the data in situation a of the above problem, prepare the employer's September 30 journal entries to record salary expense
Jason, Kelly , and Rice are partners who share profits 5:3:2, respectively, Prepare a summary in columnar form of the partnership realization and liquidation
At what amount will Client Revenue Earned be reported in Jasper's income statement? Jasper's unadjusted trial balance reports Unearned Client Revenue
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