Business, 19.06.2020 12:57 jobrains3220

In 2018, Starsearch Corporation began work on three research and development projects. One of the projects was completed and commercial production of the developed product began in December. The company's fiscal year-end is December 31. All of the following 2018 expenditures were included in the R&D expense account: Salaries and wages for:
Lab research 490,000
Design and construction of preproduction prototype 350,000
Quality control during commercial production 39,000
Materials and supplies consumed for:
Lab research 79,000
Construction of preproduction prototype 49,000
Purchase of equipment 790,000
Patent filing and legal fees for completed project 59,000
Payments to others for research 215,000
Total $2,071,000
$295,000 of equipment was purchased solely for use in one of the projects. After the project is completed, the equipment will be abandoned. The remaining $495,000 in equipment will be used on future R&D projects. The useful life of equipment is five years. Assume that all of the equipment was acquired at the beginning of the year
Prepare journal entries, reclassifying amounts in R&D expense, to reflect the appropriate treatment of the expenditures.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 05:10, Kaitneedshelps

1. descriptive statistics quickly describe large amounts of data can predict future stock returns with surprising accuracy statisticians understand non-numeric information, like colors refer mainly to patterns that can be found in data 2. a 15% return on a stock means that 15% of the original purchase price of the stock returns to the seller at the end of the year 15% of the people who purchased the stock will see a return the stock is worth 15% more at the end of the year than at the beginning the stock has lost 15% of its value since it was originally sold 3. a stock purchased on january 1 cost $4.35 per share. the same stock, sold on december 31 of the same year, brought in $4.75 per share. what was the approximate return on this stock? 0.09% 109% 1.09% 9% 4. a stock sells for $6.99 on december 31, providing the seller with a 6% annual return. what was the price of the stock at the beginning of the year? $6.59 $1.16 $7.42 $5.84

Answers: 3

continue

Business, 22.06.2019 09:40, cerna

Alpha industries is considering a project with an initial cost of $8 million. the project will produce cash inflows of $1.49 million per year for 8 years. the project has the same risk as the firm. the firm has a pretax cost of debt of 5.61 percent and a cost of equity of 11.27 percent. the debt–equity ratio is .60 and the tax rate is 35 percent. what is the net present value of the project?

Answers: 1

continue

Business, 22.06.2019 15:40, arigamez90

Aprice control is: question 1 options: a)a tax on the sale of a good that controls the market price. b)an upper limit on the quantity of some good that can be bought or sold. c)a legal restriction on how high or low a price in a market may go. d)control of the price of a good by the firm that produces it.

Answers: 1

continue

Business, 22.06.2019 16:20, valdezavery1373

The assumptions of the production order quantity model are met in a situation where annual demand is 3650 units, setup cost is $50, holding cost is $12 per unit per year, the daily demand rate is 10 and the daily production rate is 100. the production order quantity for this problem is approximately:

Answers: 1

continue

You know the right answer?

In 2018, Starsearch Corporation began work on three research and development projects. One of the pr...