Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
Questions Answered: 66690
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Aug 2017 My Price 5.00

Lavender Manufacturing Company

75.   LO.8, 9 On December 1, 2013, Lavender Manufacturing Company (a corporation) purchased another company’s assets, including a patent. The patent was

used in Lavender’s manufacturing operations; $49,500 was allocated to the patent, and it was amortized at the rate of $275 per month. On July 30, 2015, Lavender sold the patent for $95,000. Twenty months of amortization had been taken on the   patent. What  are the  amount and  nature of  the  gain Lavender recognizes  on    the disposition of the patent? Write a letter to Lavender, discussing the treatment of the gain. Lavender’s address is 6734 Grover Street, Boothbay Harbor, ME 04538. The letter should be addressed to Bill Cubit, Controller.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Aug 2017 09:08 PM My Price 5.00

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