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Question - Margaret Avery Company from time to time embarks on a research program when a special project seems to offer possibilities. In 2011, the company expends $338,980 on a research project, but by the end of 2011 it is impossible to determine whether any benefit will be derived from it.
(a) The project is completed in 2012, and a successful patent is obtained. The R&D costs to complete the project are $131,900. The administrative and legal expenses incurred in obtaining patent number 472-1001-84 in 2012 total $23,000. The patent has an expected useful life of 5 years. Record these costs in journal entry form. Also, record patent amortization (full year) in 2012.
(b) In 2013, the company successfully defends the patent in extended litigation at a cost of $53,280, thereby extending the patent life to December 31, 2020. What is the proper way to account for this cost? Also, record patent amortization (full year) in 2013.
Briones Books is concerned about the pro?tability of its regular dic- tionaries. Company managers are considering producing only the top-quality, hand-sewn dictionaries with gold-edged pages.
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in january the knox comapny requisitions raw materials for production as follows job 1 900 job 2 1400 job 3 700 and
john dies and his estate receives a distribution from his employers qualified pension plan of 2 million dollars
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In 2011 a company report earning per share of $10.00 when its stock was selling for $220. In 2012, its earning increased by 14%. If all the relationship remains constant, what is the price of stock for 2012?
The Grandma Corporation manufactures two products - cookies and candy. Compute the contribution margin per "unit."
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