Record the patent at what amount, Accounting Basics

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Record the patent at what amount

Mini Corp. acquires a patent from Maxi Co. in exchange for 2,500 shares of Mini Corp.'s $5 par value common stock and $90,000 cash. When the patent was initially issued to Maxi Co., Mini Corp.'s stock was selling at $7.50 per share. When Mini Corp. acquired the patent, its stock was selling for $9 a share. Mini Corp. should record the patent at what amount?

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Accounting Basics: Record the patent at what amount

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Record the patent at what amount

Reference No:- TGS056563

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Calculate the pension expense

Q : Effective annual percentage cost of foregoing

Q : Capital budgeting decisions of multinational companies

Q : Amount of discount-premium amortization

Q : Record the patent at what amount

Q : Calculation of weighted average cost of capital

Q : Describe how change impacts the company

Q : Calculation of expected return and the total market value

Q : Cost of equity estimate according to discounted cash flow

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Record the patent at what amount

Reference No:- TGS056563

Recent Questions Asked Accounting Basics

Q : Calculate the pension expense

Q : Effective annual percentage cost of foregoing

Q : Capital budgeting decisions of multinational companies

Q : Amount of discount-premium amortization

Q : Record the patent at what amount

Q : Calculation of weighted average cost of capital

Q : Describe how change impacts the company

Q : Calculation of expected return and the total market value

Q : Cost of equity estimate according to discounted cash flow

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