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Problem 1: Ivashkin Manufacturing Company acquired three patents in January 2020. The patents have different lives as indicated in the following schedule: Patent A costs P125,000, has 10 years remaining useful life and 17 years remaining legal life. Patent B costs 272,500 with 5 years remaining useful life and 7 years remaining legal life. Patent C costs 656,200 with indefinite remaining useful life and 17 remaining legal life. Patent C is believed to be uniquely useful as long as the company retains the right to use it. In June 2020, the company unsuccessfully attempted to defend its right to Patent B. Legal fees of P127,000 were incurred in this action. The company's policy is to amortize intangible assets by the straight-line method to the nearest half-year. The company reports on a calendar-year basis. How much is the patent amortization expense for the year ended December 31, 2020?
On January 1, Grissom Inc. issued 10-year, Prepare the issuer's journal entry to record the first semiannual interest payment on July 1
finlon upholstery inc. uses a job-order costing system to accumulate manufacturing costs. the companys work-in-process
Determine ending inventory cost by average cost method. In your calculations round per unit to the nearest cent. Round your answer to the nearest whole dollar
What are the advantages to the shareholders in a target entity that is acquired via taxable stock acquisition vs. a taxable acquisition of net assets? What are the advantages to the acquiring entity?
What are the most important long-term debts based on monetary amount of the company Anthem, Inc. and Molina Health Care? (Using 10-K Information)
Scottsdale Fine Piano%u2019s purchases pianos from a well-known manufacturer and sells them through their retail store. The Baby Grand Pianos sell, on average, for $2,500 each.
What are the total prevention costs for the Abrams Corporation? The Abrams Corporation incurred the quality costs for the year ending December 31, 2018.
Alpha Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2016
Explain the role of ethics in the regulatory environment, Identify one or more regulations that would apply to your selected company.
As you have learned in this week's readings the Accounting Equation is Assets = Liabilities + Owners' Equity. Is the accounting equation true in all instances? Provide sample transactions from your own experiences to demonstrate the validity of t..
How to Determine the Stockholders' equity as of October 31, 20Y3, assuming that assets increased by $95,680 and liabilities increased by $57,530 during 20Y3.
"Roger was the controller for a midsize soft drink bottler and distributor. Roger perpetrated a very simple skimming scheme.
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