Answer:
$575,000 for patent 1 only
Explanation:
Patent 1 Patent 2
Purchase price 500,000 200,000
Legal & filing Fees 25,000 20,000
Legal fees for successful defense 50,000 0
Total Capitalization Cost 575,000 0
Only patent 1 will be capitalized with value of $575,000 as its right was successfully defended. Where as the patent 2 will not be capitalized as it is useless and has no value at year end.
Answer: passed the Foreign Corrupt Practices Act
Explanation:
In the 1970s, the United States passed the Foreign Corrupt Practices Act which requires all publicly traded companies, whether or not they are involved in international trade, to keep detailed records that would reveal whether a violation of the act has occurred.
The Foreign Corrupt Practices Act of 1977 is a federal law in the United States that prohibits the citizens of the United States and its entities from bribing foreign government officials in order to derive an unfair advantage their business interests.
Since there is no options provided, it could be :
- The price of your products compared to your target's level of income
- The Rules and law that exist in your area
- The amount of competitors that exist
- The distribution factors, how easy is it to deliver your product to your targets
Answer:
a. revenue (R), affecting owner's investment (I)
b. not affecting owner's equity (NOE)
c. expense (E) and affecting owner's investment (I)
Explanation:
Revenues and Expense form Profits which are included in the statement of changes in equity through the Retained Income line item, thus these two also affect owners investment.
Answer:
B. The amount of equity reported by Frankfort Corporation is $672,000
Explanation:
Equity earnings
= Frankfort's share in net income of Bradley
= 1,680,000 * 40%
= 672,000
Option B
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