1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ExtremeBDS [4]
3 years ago
12

Cullumber Company incurred research and development costs of $101000 and legal fees of $41000 to acquire a patent. The patent ha

s a legal life of 20 years and a useful life of 10 years. What amount should Cullumber record as Patent Amortization Expense in the first year
Business
1 answer:
MArishka [77]3 years ago
4 0

Answer:

$14,200

Explanation:

<em>Step 1 Determine the Cost of the Patent </em>

Research and Development costs        $101000

<em>Add</em> legal fees                                         $41000

Total                                                         $142,000

<em>Step 2 Determine Amortization Expense </em>

Amortization Expense = Cost/ Useful life

                                     = $142,000/10 years

                                     = $14,200

You might be interested in
Which of these do you need to do when receiving criticism? A. Do not respond to criticism. B. Ignore the criticism. C. Respond t
soldier1979 [14.2K]

Answer:

b

Explanation:

Do not let them know you hear them! Think of them as walls. You cant hear them!

6 0
3 years ago
Read 2 more answers
Rey Pfeffer and Robert Sutton believed that evidence-based management is founded on the belief that facing the hard facts about
Oksana_A [137]

Answer: True

Explanation: According to Rey Pfeffer and Robert Sutton, they both advocated that  companies can bolster performance and trump the competition through evidence-based management, an approach to decision making and action that is driven by hard facts rather than half-truths, too much ride on gut instinct or intuition, acting without questioning, beliefs, ideologies, and popular fashions of management practices

listed below are the financial and organizational impact on business and how to overcome barriers to evidence-based management in various organizations:

1. Work is fundamentally different than the rest of life

2. The best organizations have the best people

3. Financial incentives drive company performance

4. Strategy is destiny  and great leaders are in control of their companies

6 0
3 years ago
Which reason is most important for performing an inventory and making photographs of equipment?
olasank [31]
An inventory refers to a detailed list of materials and goods in stock. These items are to be later sold or repaired. It is important to perform an inventory and to take photos of the equipment for taxing purposes, i<span>n case of possible damage or theft, and when deciding whether to purchase additional equipment.</span> 
5 0
3 years ago
What are examples of postsecondary education? Check all that apply.
xz_007 [3.2K]

Answer:

How come this is a question if you have the answer

6 0
3 years ago
Read 2 more answers
There is no difference between the law of diminishing marginal returns and the law of diminishing marginal rate of technical sub
Tasya [4]

Answer:

False

Explanation:

There is a huge difference between Diminishing marginal utility and law of diminishing marginal rate of technical substitution. The diminishing marginal rate of utility is used to construct short-run production function and it is based on cardinal utility. Correspondingly, the law of diminishing marginal utility is used to construct long-run isoquants and isocost curve, and it represents ordinal utility.

7 0
3 years ago
Other questions:
  • A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $2,100 and is
    9·1 answer
  • Allocative efficiency involves determining: which output mix will result in the most rapid rate of economic growth. which produc
    7·1 answer
  • Grey Corporation has $100,000 of accounts receivable on December 31, 2015. The unadjusted balance of its Allowance for Doubtful
    13·1 answer
  • ________ is the stage of the new-product process that involves exposing actual products to prospective consumers under realistic
    7·1 answer
  • Duane decided on purchasing a \$141,000 home . At closing he brou check for \$7570 The closing costs were as follows:
    15·1 answer
  • The bond has a coupon rate of 5.57 percent, it makes semiannual payments, and there are 5 months to the next coupon payment. A c
    5·1 answer
  • In its most common usage, ______ refers to circumstances in which an insurance company tries to recoup expenses for a claim it p
    13·1 answer
  • Which stage in the product life cycle often sees a business spending a lot of
    10·1 answer
  • On February 22, Brett Corporation acquired 210 shares of its $3 par value common stock for $25 each. On March 15, the company re
    9·1 answer
  • Roxy corporation makes a short-term investment in 180 shares of sager company's common stock. the stock is purchased for $53 a s
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!