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Banana Corporation had the following transactions relating to a patent:
January 1, 2010: Purchased patent for $2,000,000. The patent had fifteen years remainnig although Banana expected to use it for only ten.January 1, 2012: Successfully defended patent in a lawsuit. Spent $250,000 on attorney fees.January 1, 2013: Banana determined that the patent would become useless at the end of 2018.
Evaluate the balance in the patent account as of December 31, 2013. Show your calculations.
Early in 2014, Dobbs Corporation engaged Kiner, Inc. to design and construct a complete modernization of Dobbs's manufacturing facility. Construction was begun on June 1, 2014 and
weekly working hour 48 , hourly wage rate 15$ , price rate per unit 6$ , normal time taken per piece 36 minuets , normal output per week 220 pieces , actual output per week 275 pie
These balances for a company x Raw materials $40,000 Work in process $30,000 Finished goods $60,000 for the current year the company estimated that it would work 150.000 m
what is the concept
is sale of salvage from capital project recorded as gain/loss or applied back to project costs
1) Presented below is a list of terms, followed by definitions or descriptions of those terms. a. Cost pool b. Actual cost system c. Cost driver d. Manufacturing diver
A 1- year Canadian bond with a face value of 5000 can be purchased at 4800. a) Calculate the nominal interest rate in Canada. b) if the Canadian dollar is expected to depreci
Amy earns $35,000 working part time. Consequently, she is not eligible to participate in her employer's retirement plan or health insurance program. Amy's expenses are summarized a
Suppose the Danny can prepare 50 pizzas or 100 sandwiches in an hour and Steve can produce 15 pizzas or 9 sandwiches. a) Draw each individual's PPF. b) Calculate the oppor
Loring Company had the following data for the month: Variable costs per unit: Direct Materials $4 Direct Labor 3.20 Variable Overhead 1 Variable selling expense 0.40 Fixed Ov
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