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Question - On January 1, 2016, J-Hope Company incurred a P2,500,800 cost to develop a product design of the patent. During that year, Development costs incurred after technological viability are P1,007,500 and additional legal fees and other costs associated with registration of the patent are P287,900.
During 2019, the entity paid P800,000 for legal fees in a successful defense of the patent.
The patent's legal life is 10 years and the useful life of 12 years.
Required - How much is the carrying amount of the patent on December 31, 2020?
For the fiscal year that just ended, Oliver Industries had a 15% ROA, net income of $2.1 million, Given these values, what were the firm's net sales
Give the journal entries to record (1) the declaration of the dividend and (2) the distribution of the dividend
At time of issue the market rate was 9%. What is the present value of the bond at market rate
Compute net cash provided by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).
Which will not consider the going concern concept for accounting purposes? A business in receivership or bankruptcy. / A business in aggressive expansion mode
Determine the net effect of these errors (i.e., combined effect of all three errors) on the following items. Indicate the dollar amount of the net error
An old warehouse on the property was demolished at a cost of $7,300; Determine the amount to be reported as the cost of the land
the resolute resort hotel currently operates at a 75 occupancy using a rack rate for all rooms of 60 and a marginal
Carolina Mills purchased $280,000 in supplies this year. The supplies account increased by $30,000 during the year to an ending balance of $71,000. What was supplies expense for Carolina Mills during the year?
kindle inc. manufactures cosmetic products that are sold through a network of sales agents. the agents are paid a
Submit your hypothesis development and investigation plan for your company 9Worldcom. What frauds could occur in the environment you researched
Why has the IRS relaxed enforcing the "fringe benefit" restrictions on De Minimis fringe benefits?
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