What amount should crane record as patent amortization

Assignment Help Financial Management
Reference no: EM132325605

Question

Crane Company incurred research and development costs of $111000 and legal fees of $51000 to acquire a patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Crane record as Patent Amortization Expense in the first year?

Reference no: EM132325605

Questions Cloud

What goodwill impairment should be recognized by sunlands : Sunlands Company bought Special Products Division in 2017 and appropriately recorded $756000 of goodwill related to the purchase.
Determine the tablet store accounts payable : The Tablet Store recently opened to sell iPads and other tablet computing devices. It purchases its tablets directly from the manufacturers.
Create a logical data model depicted as an data dictionary : Given a business case study, create a logical data model depicted as an Entity-Relationship Diagram (ERD) and data dictionary
What amount of goodwill should egbert record as a result : On 12/31/18, Egbert Corporation paid $12050000 to acquire Wildhorse. What amount of goodwill should Egbert record as a result of this purchase?
What amount should crane record as patent amortization : The patent has a legal life of 20 years and a useful life of 10 years. What amount should Crane record as Patent Amortization Expense in the first year?
How the life cycle affects the development of a new version : Define and discuss the product life cycle and how this might affect our new product development planning. After reviewing this week's resources.
What amount should waterway report as an impairment : The equipment is expected to be used in operations in the future. What amount (if any) should Waterway report as an impairment to its equipment?
What should be the charge for depreciation of this equipment : The equipment was estimated to have a salvage value of $13000 and it is being depreciated over eight years under the sum-of-the-years'-digits method.
What is the depreciation expense for 2017 : Swifty Corporation purchased a truck at the beginning of 2017 for $108300. The truck is estimated to have a salvage value of $4100 and a useful life.

Reviews

Write a Review

Financial Management Questions & Answers

  Calculate the emergency fund ratio and solvency ratio

FCS320 Family Resource Management Assignment. Calculate the following ratios: Solvency ratio, Current ratio and Emergency fund ratio

  Inconsequential when deciding how to use the contribution

Why is it when a not for profit facility receives a contribution from a member of the community, the cost of capital is inconsequential when deciding how to use the contribution, because it is free money - please explain

  Verify the portfolio you construct is arbitrage portfolio

Determine whether there is an arbitrage opportunity. If there is, find an arbitrage portfolio. Verify the portfolio you construct is an arbitrage portfolio.

  What was annual change in average selling price

In October 2012, the average house price in the United States was $233,600. In October 2003, the average price was $287,600. Required: What was the annual change in the average selling price?

  Identify at least two communication and two task norms

Identify at least two communication and two task norms that operate in your team. Remember that norms can be "unspoken."

  How much will the negotiable cd holder receive at maturity

Calculate the bond equivalent yield and the EAR on the CD. How much will the negotiable CD holder receive at maturity?

  The value of equity after the recap

Nichols Corporation's value of operations is equal to $500 million after a recapitalization. What is S (the value of equity after the recap)?

  What strategy would they be implementing

Suppose the Baldwin company shifts focus to only competing in the Thrift and Nano segments, while competing on price by reducing costs and passing the savings to the customers, what strategy would they be implementing?

  What type of funding does crowdfunding site typically deal

What type of funding does the crowdfunding site typically deal with (i.e. what is the mission of the site and how do they go about achieving it?)?

  What would be an appropriate estimate of the stock price

What would be an appropriate estimate of the stock price today?

  How much can the firm spend on new capital expenditures

how much can the firm spend on new capital expenditures?

  An active strategy utilized for common stocks

An active strategy utilized for common stocks

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd