Ramirez Stores purchased a trademark at the beginning of 2016 for $340,000 . Economic benefits were expected for 10 years, but the trademark's legal life was 20 years. Also, during 2016, Ramirez incurred research and development costs of $200,000 . The book value of the trademarks at December 31, 2016, is
a. $506,000
b. $306,000
c. $323,000
d. $486,000
b
You might also like to view...
Which of the following is LEAST closely associated with corporate social responsibility?
A) sustainability B) the triple bottom line C) marketing ethics D) globalization E) social responsibility
In a market-directed economy, profit is guaranteed.
Answer the following statement true (T) or false (F)
Lueckenhoff Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $497,000, variable manufacturing overhead of $2.40 per direct labor-hour, and 70,000 direct labor-hours. The company has provided the following data concerning Job T498 which was recently completed:Number of units in the job40Total direct labor-hours80Direct materials$ 950Direct labor cost$ 2,720The estimated total manufacturing overhead is closest to:
A. $497,002 B. $168,000 C. $665,000 D. $497,000
Condominium owners have no ownership rights in the common areas
Indicate whether the statement is true or false