FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Eurofoam LLC issued 8,000 shares of OMR 10 each in order to procure a patent of latest technology developed by Oxfom Lic. The original cost

image text in transcribed
Eurofoam LLC issued 8,000 shares of OMR 10 each in order to procure a patent of latest technology developed by Oxfom Lic. The original cost of patent was OMR 82,000. The market values of the shares issued by Eurofoam LLC stood OMR 11.5 each. What shall be the value of patent in the books of Eurofoam LLC? OMR 82,000 OMR 92,000 None of them OMR 80,000 7216

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Auditing

Modern Auditing

Authors: William C Boynton, Raymond N Johnson

8th Edition

0471230111, 978-0471230113

More Books

Students also viewed these Accounting questions

Question

★★★★★
After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Gibbs, Hill, and Manson are $24,000, $28,000, and $14,000, respectively. Cash, noncash...

Answered: 1 week ago

Question

★★★★★
In its 10-K amended filing on April 30, 2010, Bronco Drilling reported the financial statements of Challenger Limited (an unconsolidated subsidiary) for its year ending December 31, 2009. The balance...

Answered: 1 week ago

Question

★★★★★
Do neural networks process information sequentially? Explain.

Answered: 1 week ago

Question

★★★★★
The Northshire Hospital Trust operates two types of specialist X-ray scanning machines, XR1 and XR50. Details for the next period are estimated as follows: A brain scan is normally carried out on...

Answered: 1 week ago

Question

★★★★★
The partners of Sandhill Company have decided to liquidate their business. Noncash assets were sold for $122.840. The income ratio of the partners Cisneros, Gunselman, and Forte are 3: 2:3,...

Answered: 1 week ago

Question

★★★★★
In this circuit, the battery has a voltage of 12 V between terminals (and a negligible internal resistance). We are told that the resistor R in the middle branch of the circuit would dissipate 1.5 W...

Answered: 1 week ago

Question

★★★★★
You start a consulting business after graduation to do website development for small companies. As your organization grows, you hire more people but communication is informal, employees are committed...

Answered: 1 week ago

Question

★★★★★
Clarence has been investing $1,000 at the end of every year at 11% compounded annually. With today's contribution his investment has grown to $44,500. How many years ago did he make the first...

Answered: 1 week ago

Question

★★★★★
Among the strategies that Amazon has implemented is the cost reduction strategy, focus and leadership in reducing costsIn addition to the strategy of maintaining customer loyalty and using technology...

Answered: 1 week ago

Question

★★★★★
Your organization wants to encourage more collaboration and communication in the organization. The product team wants to collaborate with marketing and the sales team beyond the usual email system....

Answered: 1 week ago

Question

★★★★★
Din frsta uppgift r att lsa, reflektera och analysera caset som finns bifogat, lngst ner i den hr texten, fr INL1. Caset beskriver hur Vanguard Electronics frndrade sin struktur genom att utveckla...

Answered: 1 week ago

Question

★★★★★
=+Part 3 Write a second AdWord ad for another audience or for another service or product.

Answered: 1 week ago

Question

★★★★★
=+What offers or rewards could you create to persuade people to become a Facebook fan or share their location on foursquare for points?

Answered: 1 week ago

Question

★★★★★
=+fitness buffs, gardening enthusiasts, wine connoisseurs, gourmands, environmentalists, fundraisers for charitable organizations, industry associates, wedding parties, same-sex couples, singles,...

Answered: 1 week ago

Previous Question Next Question