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Delaware Company incurred the following research and development costs during 2 0 2 4 : Salaries and wages for lab research $ 4 0 0
Delaware Company incurred the following research and development costs during :
Salaries and wages for lab research $
Materials used in R&D projects
Purchase of equipment
Fees paid to third parties for R&D projects
Patent filing and legal costs for a developed product
Salaries, wages, and supplies for R&D work performed for another company under a contract
Total $
The equipment has a sevenyear life and will be used for a number of research projects. Depreciation for is $
Required:
Calculate the amount of research and development expense that Delaware should report in its income statement. On September the Robers Company exchanged equipment with Anthony Corporation. The facts of the exchange are as follows:
Robers Asset Anthony'ss Asset
Original cost $ $
Accumulated depreciation
Fair value
To equalize the exchange, Anthony paid Robers $ in cash.
Required:
Record the exchange for both Robers and Anthony The exchange has commercial importance for both companies.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field Record the exchange of equipment for Robers Company. Record the exchange of equipment for Robers Company. The exchange has commercial importance for both companies. To equalize the exchange, Phifer paid Robers $ in cash.Record the exchange of equipment for Phifer Corporation. The exchange has commercial importance for both companies. To equalize the exchange, Phifer paid Robers $ in cash. Show work Please
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