Question
On January 1, 20x1, C Co. incurred P400,000 in registering a patent. I Inc., a third-party, committed to purchase the patent during the remaining five
On January 1, 20x1, C Co. incurred P400,000 in registering a patent. I Inc., a third-party, committed to purchase the patent during the remaining five years of its legal useful life for a total cost of P100,000. How much is the carrying amount of the patent on December 31, 20x1?
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Financial & Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
9781133607618, 978-1285868776
