Proton Corporation incurred the following costs in 2022: Acquisition of R&D equipment with a useful life of 4 years in R&D projects P500,000 Start-up costs incurred when opening a new plant 140,000 Advertising expense to introduce a new product 700,000 Engineering costs incurred to advance a product to full production stage (economic viability not achieved) 400,000 What amount should Proton record as research & development expense in 2022? O P1,040,000 O P 525,000 O P 640,000

Proton Corporation incurred the following costs in 2022: Acquisition of R&D equipment with a useful life of 4 years in R&D projects P500,000 Start-up costs incurred when opening a new plant 140,000 Advertising expense to introduce a new product 700,000 Engineering costs incurred to advance a product to full production stage (economic viability not achieved) 400,000 What amount should Proton record as research & development expense in 2022? O P1,040,000 O P 525,000 O P 640,000

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 29CE

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Rover Corporation incurred the following costs in 2022: Acquisition of R&D equipment with a useful life of 4 years in R&D projects Start-up costs incurred when opening a new plant Advertising expense to introduce a new product Engineering costs incurred to advance a product to full 400,000 production stage (economic viability not achieved) What amount should Rover record as research & development expense in 2022? P 640,000 P 900,000 P1,040,000 O P 525,000 P500,000 140,000 700,000
Oriole Corporation, which uses straight-line depreciation and amortization, incurred the following costs in 2026: Acquisition of R&D equipment with a useful life of 4 years in R&D projects (no salvage) $948000 Cost of making minor modifications to an existing product Advertising expense to introduce a new product 143000 730000 Engineering costs incurred to advance a product to full production stage 830000 What amount should Oriole report as research & development expense in 2026? $1141000 ○ $1067000 ○ $1560000 $1871000
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Presented below is information related to equipment owned by Vaughn Company at December 31, 2020. Cost $10,350,000 Accumulated depreciation to date 1,150,000 Expected future net cash flows 8,050,000 Fair value 5,520,000 Assume that Vaughn will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years. The fair value of the equipment at December 31, 2021, is $5,865,000. Prepare the journal entry (if any) necessary to record this increase in fair value. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 enter an account title to record the transaction on December 31, 2018 enter a debit amount enter a credit amount enter an account title to record the transaction on December 31, 2018…
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