In January 2014, Western Co purchased a patent for $750,000 that had an estimated remaining economic life of ten years. On January 2, 2017, the company incurred $140,000 in legal fees to successfully defend the validity of the patent. In January 2019, the company incurred $88,000 in legal fees in a new infringement lawsuit. In this situation, the lawsuit was lost, and the patent was determined to
be worthless as a result. What is the expense to be recognized in 2019 by Western with regard to the patent?
A) $750,000
B) $150,000
C) $475,000
D) $563,000
D
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Indicate whether the statement is true or false
Middleton Corporation reported utilities expense of $18,200 on its income statement for Year 1. For the year, the beginning balance in Utilities Payable was $2,500 and the ending balance was $1,500. The amount of cash that Mayes paid for utilities in Year 1 was $19,200.
Answer the following statement true (T) or false (F)
For excellent customer service to exist, the successful joining of corporate values and
employee values must occur. Values are: a. legal guidelines as to what is right and wrong. b. our interpretation of company policies. c. what our parents taught us to believe. d. a combination of beliefs, perceptions, and ideas as to the appropriate response to a situation.
The ____ testimony helped the jury make its decision
A) witnesses B) witness's C) witnesses'