Pharoah Corporation acquired a patent on May 1, 2017. Pharoah paid cash of $94000 to the seller. Legal fees of $2700 were paid related to the acquisition. What amount should be debited to the patent account
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Pharoah Corporation acquired a patent on May 1, 2017. Pharoah paid cash of $94000 to the seller. Legal fees of $2700 were paid related to ...” 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
Which of the following statements ignores the concept of opportunity cost? A) there is no such thing as a free lunch!
Answers (1)
Decreasing marginal returns occur in the short run as more labor is hired to work in a fixed sized plant because A. adding more workers exhausts the possible gains from specialization. B. less efficient and less productive workers are hired. C.
Answers (1)
Consider a production line with five stations. Station 1 can produce a unit in 9 minutes. Station 2 can produce a unit in 10 minutes.
Answers (1)
During 2018, a company provided services for cash of $33,600 and services on credit of $24,000. The company collected accounts receivable of $12,800 and incurred operating expenses of $36,320, $22,400 of which were paid during the year.
Answers (1)
A good question to ask yourself when you are deciding if you should put money into a savings or investment is "when will I need the money?" True or false
Answers (1)
New Questions in Business
If a manager increases the system utilization standard (assuming no change in the customer arrival rate) what happens to the average customer time in the system? A. It increases exponentially. B. It increases proportionally. C.
Answers (1)
Let a be the event that a student is enrolled in an accounting course, and let s be the event that a student is enrolled in a statistics course.
Answers (1)
Blaser Corporation had $1,075,000 in invested assets, sales of $1,243,000, income from operations amounting to $216,000 and a desired minimum rate of return of 13%. The rate of return on investment for Blaser Corporation is
Answers (2)
Re-Up Enterprises has sales of $926,355, costs of goods sold of $613,500, inventory of $189,880, and accounts receivable of $78,580. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?
Answers (1)
Which of the following is one of the main things to consider when evaluating a business opportunity?
Answers (1)