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Mini corp should record the patent at what amount

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Reference no: EM132904717

Problem 1: Mini Corp. acquires a patent from Maxi Co. in exchange for 2,500 shares of Mini Corp.'s P5 par value ordinary shares and P85,000 cash. When the patent was initially issued to Maxi Co., Mini Corp.'s shares were selling at P 7.50 per share. When Mini Corp. acquired the patent, its shares were selling for P9 a share. Mini Corp. should record the patent at what amount?

Reference no: EM132904717

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