Question
. In 2022, Poseidon Corporation incurred the following expenditures in the development of a new plant process: Salaries $125,000 Materials 45,000 Utilities 10,000 Quality control
.
In 2022, Poseidon Corporation incurred the following expenditures in the development of a new plant process:
| Salaries | $125,000 |
| Materials | 45,000 |
| Utilities | 10,000 |
| Quality control testing costs | 20,000 |
| Management study costs | 5,000 |
| Depreciation of equipment | 9,000 |
The benefits from the project began being realized in May 2023. What is Poseidon's research and experimentation deduction in 2022?
a.$-0-.
b.$18,900.
c.$37,800.
d.$25,200.
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Intermediate Accounting
Authors: Fred Skousen, James Stice, Earl Kay Stice
14th Edition
0324013078, 9780324013078
