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Feliz [49]
3 years ago
13

Nieland Industries had one patent recorded on its books as of January 1, 2014. This patent had a book value of $288,000 and a re

maining 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?
Business
1 answer:
Ostrovityanka [42]3 years ago
4 0

Answer:The patent should be reported at $430870.59

Explanation:

Research and development costs and costs incurred to defend the Patent   should be capitalized.

288000/8 = 36000

Amortization from january to november = 36000 x 11/12 = 33000

Book value on 1 december 2014 = 288000 - 33000 = 255000

remaining months = 7 x 12 = 84 + 1 month (december 2014) = 85

Book Value 1 December = 255000 + 96000 + 85000 =436000

Book Value 31 December 2014 = 436000 - 436000/85 = 430870.59

The patent should be reported at $430870.59

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umka2103 [35]

Answer:

A. True

Explanation:

Vision refers to what gives the organization a sense of purpose and a set of values that unite workers to achieve a common goal.

Leadership can be defined as the creation of vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business in order to improve effectiveness and efficiency.

Management on the other hand, can be defined as the process used to accomplish organizational goals through planning, organizing, leading, and controlling organizational resources. Management functions includes planning, controlling, directing, organizing, etc....

4 0
3 years ago
A market price:________.
trasher [3.6K]

Answer:

C

Explanation:

Sellers market! Sellers decide what will be the market price for their goods.

Buyers can and cannot agree with the proposed price.

If they agree, sellers will up their prices next year

If the buyers do not agree we will have a sale going on

Easy as that

7 0
3 years ago
What is the value of an annuity due at the end of 15 years of quarterly deposits of $2,000.00 with terms of 8 percent compounded
elena55 [62]

Explanations:

The formula for future value given

deposit amount, A = 2000

deposit interest,  i = 8% annually = 8/4 = 2%, compounded quarterly

compounding period = quarterly

number of periods, n = 15 years = 4*15 = 60 periods (quarters)

The future value is given by:

FV = A*((1+i)^n-1)/i

= 2000*(1.02^60/0.02)

= $228103.08  (rounded to the nearest cent).

The difference in the answer choice is probably due to the teacher's calculator does not have sufficient accuracy.

4 0
3 years ago
Henry wants customers in his specialty tobacco store to feel at home, as if they were in their personal smoking den. He uses lig
garik1379 [7]

Answer:

Promotion.

Explanation:

The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty. Promotion is also one of the elements in the promotional mix or promotional plan.

3 0
3 years ago
Which attack is typically performed from a hallway or doorway?
masha68 [24]

Answer:

B. Combination

Explanation:

Firefighting can be defined as a strategic approach or technique which typically involves the process of attempting to prevent and control the spread of an unwanted fire in buildings, vehicles or any other location (place).

Basically, the professionals or experts who are saddled with the responsibility of preventing or controlling this unwanted fire are known as fire fighters.

An attack which is typically performed from a hallway or doorway is known as combination.

3 0
3 years ago
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