Ask Question
BusinessBusiness
23 May, 09:13

Martha Beyerlein Company incurred $150,000 of research and development costs in its laboratory to develop a patent granted on January 2nd, 2017. On July 31st, 2017, Beyerlein paid $35,000 for legal fees in a successful defense of the patent. The total amount debited to Patents through July 31st, 2017, should be

+1
Answers (1)
  1. 23 May, 09:18
    0
    The total amount that will be debited to the patents account on July 31, 2017 will be $35,000.

    Explanation:

    The amount of $150,000 will not be included in the patents account because this patent was developed by the Martha beyerlein company not purchased from any other firm, so the cost incurred here will be debited to the research and development account. And only the $35,000 that was paid for legal fees will be debited to the patents account.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Martha Beyerlein Company incurred $150,000 of research and development costs in its laboratory to develop a patent granted on January 2nd, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
At bert's bootery, the total cost of producing twenty pairs of boots is $400. the marginal cost of producing the twenty-first pair of boots is $83. we can conclude that the
Answers (1)
Google: What is business management?
Answers (2)
Municipal bonds, or munis, a.) pay higher interest rates than most bonds. b.) are not usually tax-exempt. c.) are often risky investments. d.) are usually a safe investment.
Answers (1)
A fundamental difference between regular marketing and global marketing is
Answers (1)
Watson Company has monthly fixed costs of $75,000 and a 40% contribution margin ratio. If the company has set a target monthly income of $14,200, what dollar amount of sales must be made to produce the target income?
Answers (1)
New Questions in Business
Incremental change within an organization often means no changes will be made because those in power can easily resist making such changes. a. True b. False
No Answers
Which act allows employees claiming discrimination to treat each receipt of a paycheck as an instance of discrimination for purposes of determining their eligibility to file a complaint
Answers (1)
Juanita purchased a Polar Express train set from Lionel Trains. She paid $240 for the set and received consumer surplus of $125. What was Juanita's willingness to pay for the train set?
Answers (1)
A practitioner may perform an agreed-upon procedures engagement on prospective financial statements provided that which of the following is met? a. Use of the agreed-upon procedures report is notrestricted. b.
Answers (1)
What is the difference between a traditional economy and a market economy?
Answers (1)
Home » Business » Martha Beyerlein Company incurred $150,000 of research and development costs in its laboratory to develop a patent granted on January 2nd, 2017. On July 31st, 2017, Beyerlein paid $35,000 for legal fees in a successful defense of the patent.
Sign Up Forgot Password?