The Lane Company incurred the following expenditures in January 2016: (1 ) research and development costs of $510,000 that resulted in a new product that was patented during the year, (2 ) $12,000 in legal fees to have the patent registered, (3 ) $100,000 in advertising costs to develop a trademark for the newly patented product, (4 ) Legal fees of $8,000 incurred with the registration of the
trademark, which will only be used for five years, and (5 ) $25,000 of advertising costs to promote its good name. Benefits to be derived from the patent are expected to last for five years. The president believes the promotion of Lane's good name will benefit the firm for three years. How much amortization expense should Lane recognize for 2016?
A) $1,000
B) $4,000
C) $9,000
D) $25,000
B
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Mark and his colleagues are members of the union at Newsprint Inc. While negotiating the terms of the labor contract, they request their employer to deduct union dues from their paychecks. This type of contractual arrangement between the two parties is known as a(n)
A. maintenance provision. B. union shop. C. checkoff provision. D. trade-off provision. E. agency shop.
Whenever notice is taken of a material fact, the agency must give the parties an
opportunity to disprove the truth of the fact noticed. a. True b. False
Compare any four transportation modes by volume of goods moved in the United States and apparent strengths and weaknesses
What will be an ideal response?
Perfection is usually accomplished by filing a financing statement.
Answer the following statement true (T) or false (F)