In January 2020, Ford Co. purchased a patent from a research institution for $300,000. The patent was estimated to have a useful life of 12 years. In December 2021, Ford Co. unsuccessfully defended the patent in legal proceedings. The fair value of the patent on December 31, 2021, is now estimated to be $60,000 with a 2-year useful life. Required:
a. Record the entry for the legal fees of $28,000, paid in cash.
b. Determine the carrying value of the patent on December 31, 2021, after any necessary adjusting entries have been recorded. Carrying value of patent, Dec. 31, 2021

Last week, linda's commission check was $84. if she earns a 12.5% commission on sales, what were her total sales?

Dr. sperry, a biologist, is using excel to track growth rates of different populations of bacteria. she has a very complex formula in one cell. it begins with “round”. dr. sperry would like to see exactly how excel’s calculation reached the final rounded value that she sees in the cell. what could dr. sperry do to best understand how the calculation was made? try different formulas on her own until she reaches the value shown in excel click on the evaluate formula button in the formulas tab and then click “step in” select the cell and then look at the formula in the formula field of the ribbon remove “round” from the formula in order to see the actual value before rounding

Kubin company’s relevant range of production is 18,000 to 22,000 units. when it produces and sells 20,000 units, its average costs per unit are as follows: average cost per unit direct materials $ 7.00 direct labor $ 4.00 variable manufacturing overhead $ 1.50 fixed manufacturing overhead $ 5.00 fixed selling expense $ 3.50 fixed administrative expense $ 2.50 sales commissions $ 1.00 variable administrative expense $ 0.50 required: 1. for financial accounting purposes, what is the total amount of product costs incurred to make 20,000 units? 2. for financial accounting purposes, what is the total amount of period costs incurred to sell 20,000 units? 3. for financial accounting purposes, what is the total amount of product costs incurred to make 22,000 units? 4. for financial accounting purposes, what is the total amount of period costs incurred to sell 18,000 units?