Nieland industries had one patent recorded on its books

Reference no: EM13479950

Nieland Industries had one patent recorded on its books. This patent had a book value of $288,000 and a remaining useful life of 8 years. During 2014, Nieland incurred research and development costs of $96,000 and brought a patent infringement suit against a competitor. On December 1, 2014, Nieland received the good news that its patent was valid and that its competitor could not use the process Nieland had patented. The company incurred $85,000 to defend this patent. At what amount should patent(s) be reported on the December 31, 2014, balance sheet, assuming monthly amortization of patents?

Reference no: EM13479950

Questions Cloud

I have an article which is described below i need to have a : i have an article which is described below. i need to have a literacy analysis written on it. about 2 pages. double

Kelin bought a trademark from royce for 300000nbsp an : kelin bought a trademark from royce for 300000.nbsp an independent research company estimated that the remaining useful

Compute the market value of the bonds what will the net : cost of debt sincere stationery corporation needs to raise s500000 to improve its manufacturing plant. it has decided

The litton company has established standards as follows : the litton company has established standards as follows direct material3 pounds per unit 4 per pound 12 per unit

Nieland industries had one patent recorded on its books : nieland industries had one patent recorded on its books. this patent had a book value of 288000 and a remaining useful

The company applies variable overhead on the basis of : hurren corporation makes a product with the following standard coststhe company reported the following results

The current price is 48 per share and there are four : gates window mfg. is considering a rights offer. the company has determined that the ex-rights price would be 45. the

The materials standards have been established for a : the materials standards have been established for a particular product the data pertain to operations concerning the

Identify an ethical dilemma-either something that you have : identify an ethical dilemma-either something that you have recently faced in your life at work in school etc. or

User Account

All Pages