Which of these costs are expensed when incurred? Franchise Research and development Trade name Copyrights
Which of these costs are expensed when incurred?
| Franchise |
| Research and development |
| Trade name |
| Copyrights |
Homework Answers
Answer
- The correct answer is Option #2 Research & Development cost is expenses when incurred.
- Rest all the options are capitalized as Intangible assets in Balance sheet, and are not expensed in Income Statement.
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Which of these costs are expensed when incurred? Franchise Research and development Trade name Copyrights
Under U.S. GAAP, research and development costs are expensed as incurred; however, in the natural resources...
Under U.S. GAAP, research and development costs are expensed as incurred; however, in the natural resources industry, the cost of finding and developing natural resources (such as crude oil reserves) may be capitalized in the balance sheet under the full cost and successful efforts methods. Are these methods inconsistent with the general treatment of research and development costs under U.S. GAAP? What explanations can you offer for this inconsistency in accounting treatment of similar outlays under U.S. GAAP?
Under U.S. GAAP, research and development costs are expensed as incurred; however, in the natural resources...
Under U.S. GAAP, research and development costs are expensed as incurred; however, in the natural resources industry, the cost of finding and developing natural resources (such as crude oil reserves) may be capitalized in the balance sheet under the full cost and successful efforts methods. Are these methods inconsistent with the general treatment of research and development costs under U.S. GAAP? What explanations can you offer for this inconsistency in accounting treatment of similar outlays under U.S. GAAP?
Under U.S. GAAP, research and development costs are expensed as incurred; however, in the natural resources...
Under U.S. GAAP, research and development costs are expensed as incurred; however, in the natural resources industry, the cost of finding and developing natural resources (such as crude oil reserves) may be capitalized in the balance sheet under the full cost and successful efforts methods. Are these methods inconsistent with the general treatment of research and development costs under U.S. GAAP? What explanations can you offer for this inconsistency in accounting treatment of similar outlays under U.S. GAAP?
33. Research and Development costs are not expensed when determining the profitability of a project or...
33. Research and Development costs are not expensed when determining the profitability of a project or shown on a projected income statement. a. True b. False
In 2015 Happy, Inc. incurred research and development costs as follows: Materials and equipment Personnel Indirect...
In 2015 Happy, Inc. incurred research and development costs as follows: Materials and equipment Personnel Indirect costs $200,000 125,000 75.000 Equipment costs include equipment with a cost of $100,000 that can be used for other research projects. The equipment has an estimated life of 10 years and no salvage value. The equipment was acquired at the beginning of 2015. The equipment is to be depreciated using the straight-line basis. All cost relate to a product that will be marketed in...
QUESTION 1 During 2011, BEST Company incurred research & development expenses of $130,000, advertising expenses of...
QUESTION 1 During 2011, BEST Company incurred research & development expenses of $130,000, advertising expenses of $50,000, and depreciation expense of $20,000. The research and development costs were incurred to develop a new computer chip which promises to be a big revenue generator in the future. Compute the total amount of costs to be expensed in 2011 under GAAP. $130,000 $180,000 $200,000 $70,000 None of the above
Calculator Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product...
Calculator Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc. period costs and expensed when the goods are sold Od. product costs and expensed when the goods are sold
Which of the following expenditures should be expensed in the year incurred [mark all that apply]?...
Which of the following expenditures should be expensed in the year incurred [mark all that apply]? Research Development Rent one year before it is due Equipment Purchase Utilities for the just completed month
Under U.S. GAAP, which of the following statements is MOST accurate? Research and development costs are...
Under U.S. GAAP, which of the following statements is MOST accurate? Research and development costs are not expensed. Purchased patent and copyright costs are not expensed. Goodwill cannot be recognized and capitalized in a purchase transaction.
Short Co. incurred research and development costs in 2021 as follows: Materials used in research and...
Short Co. incurred research and development costs in 2021 as follows: Materials used in research and development projects $ 950,000 Equipment acquired that will have alternate future uses in future research and development projects 3,000,000 Depreciation for 2021 on above equipment 500,000 Personnel costs of persons involved in research and development projects 750,000 Consulting fees paid to outsiders for research and development projects 300,000 Indirect costs reasonably allocable to research and development projects 225,000 $5,725,000 The amount of research...
33. Research and Development costs are not expensed when determining the profitability of a project or shown on a projected income statement. a. True b. False
In 2015 Happy, Inc. incurred research and development costs as follows: Materials and equipment Personnel Indirect costs $200,000 125,000 75.000 Equipment costs include equipment with a cost of $100,000 that can be used for other research projects. The equipment has an estimated life of 10 years and no salvage value. The equipment was acquired at the beginning of 2015. The equipment is to be depreciated using the straight-line basis. All cost relate to a product that will be marketed in...
QUESTION 1 During 2011, BEST Company incurred research & development expenses of $130,000, advertising expenses of $50,000, and depreciation expense of $20,000. The research and development costs were incurred to develop a new computer chip which promises to be a big revenue generator in the future. Compute the total amount of costs to be expensed in 2011 under GAAP. $130,000 $180,000 $200,000 $70,000 None of the above
Calculator Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc. period costs and expensed when the goods are sold Od. product costs and expensed when the goods are sold
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