McNabb Company spent $190,000 developing a new process, $45,000 in legal fees to obtain a patent, and

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McNabb Company spent $190,000 developing a new process, $45,000 in legal fees to obtain a patent, and $91,000 to market the process that was patented, all in the year 2012. How should these costs be accounted for in 2012?

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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Question Posted: Oct 11, 2011 07:46 AM

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McNabb Company spent $190,000 developing a new process, $45,000 in legal fees to obtain a patent, and

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The 190000 should be expensed as research and development ...View the full answer

Intermediate Accounting

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