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Company A has purchased a piece of equipment from Company B. The equipment comes with a patent. The total price for both the equipment and
Company A has purchased a piece of equipment from Company B. The equipment comes with a patent. The total price for both the equipment and the patent is $600,000. How much should Company A assign to the equipment and how much to the patent? What authoritative literature addresses this issue? What is your answer? Provide proper FASB codification.
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