What amount should be debited to the patent account
Lynne Corporation acquired a patent on May 1, 2010. Lynne paid cash of $30,000 to the seller. Legal fees of $1,000 were paid related to the acquisition. What amount should be debited to the patent account?
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The standard cost of Product B by Mateo company includes three units of direct materials at $5.00 per unit. During June, 28,000 units of direct materials are purchased at a cost of $4.70 per unit.
Johnson Company plans to spend $3,993 on a 5 year project that will return $1,000 cash per year. Calculate the IRR; is it 8%? Johnson Company spends $2709 for an investment that returns $2,000 the first year.
Compute the overhead spending variance and the volume variance. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).
What is the rate of energy loss in watts per square meter through a glass window 1.6 mm thick if the outside temperature is -8.3°F and the inside temperature is +84°F?
Discuss whether the following situations should be modeled as closed systems or open systems. Clearly define the system and its boundaries.
Blue Sky Company's 12/31/10 balance sheet reports assets of $5,000,000 and liabilities of $2,000,000. All of Blue Sky's assets' book values approximate their fair value.
Denton Company has a large portion of its plant assets concentrated in an area where technology is changing rapidly. Denton wants to minimize taxable income and maximize net income reported to stockholders.
If the x component of acceleration is ax=(1/4)t^2 m/s^2, where t is in seconds, determine the magnitude of the rocket's velocity and acceleration when t=10s.
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