used in manufacturing a product. ofessional fees paid to consultants to conduct market study-----P 250,000 es paid to engineers and experts for initial research-- 150,000 st of equipment used for research. The equipment will be used for other research eful life of the equipment is 5 years----P300,000 gal fees to obtain patent---P100,000 censing fees paid to the patent office --P 25,000 gal costs paid to defend patent against infringement suit --P 47,000

used in manufacturing a product. ofessional fees paid to consultants to conduct market study-----P 250,000 es paid to engineers and experts for initial research-- 150,000 st of equipment used for research. The equipment will be used for other research eful life of the equipment is 5 years----P300,000 gal fees to obtain patent---P100,000 censing fees paid to the patent office --P 25,000 gal costs paid to defend patent against infringement suit --P 47,000

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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