Question
Question 2 During 2020, High Tech Corp spent the following to develop a COVID 19 vaccine. Labor $900,000 Lab supplies 300,000 Clinical trials 500,000 Patent
Question 2
During 2020, High Tech Corp spent the following to develop a COVID 19 vaccine.
Labor $900,000
Lab supplies 300,000
Clinical trials 500,000
Patent filing fees 15,000
High Tech Corp also purchased a COVID 19 test patent from Rapid Dev Company on July 1, 2020 for $2,250,000.
How much will High Tech Corp capitalize as intangible asset-patent in 2020?
The answer isn't 3465000
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Auditing And Edp
Authors: Gordon B Et Al Davis
2nd Edition
9993191930, 978-9993191933
