Eurofoam LLC issued 8,000 shares of OMR 10 each in order to procure a patent of latest technology developed by Oxfom LLC. The original cost of patent was OMR 82,000. The market values of the shares issued by Eurofoam LLC stood OMR 11.5 each. What shall be the value of patent in the books of Eurofoam LLC? None of them OMR 82,000 OMR 80,000 OMR 92,000

Eurofoam LLC issued 8,000 shares of OMR 10 each in order to procure a patent of latest technology developed by Oxfom LLC. The original cost of patent was OMR 82,000. The market values of the shares issued by Eurofoam LLC stood OMR 11.5 each. What shall be the value of patent in the books of Eurofoam LLC? None of them OMR 82,000 OMR 80,000 OMR 92,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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