english

During 2016, Bramble Corporation spent $178,560 in research and development costs. As a result, a new product called the New

During 2016, Bramble Corporation spent $178,560 in research and development costs. As a result, a new product called the New Age Piano was patented. The patent was obtained on October 1, 2016, and had a legal life of 20 years and a useful life of 10 years. Legal costs of $30,000 related to the patent were incurred as of October 1, 2016.
Required:
Prepare all journal entries required in 2016 and 2017 as a result of the transactions above.

Leave a Reply

Your email address will not be published.