Business, 28.05.2020 14:57 marlesly87

A company incurred the follow costs related to research and development for the current year:

Technology development (salaries and supplies) $ 320,000

Engineering work performed by another company 150,000

Purchase of equipment 750,000

Testing new models 60,000

Legal fees for patent application 30,000

The equipment will be used in other projects. Depreciation in the current year is $90,000. For what amount should the company report research and development expense?

A: $500,000

B: $620,000

C: $650,000

D: $470,000

Answers: 2

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A company incurred the follow costs related to research and development for the current year:
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