pepper1a
Feb 2, 2014, 04:09 PM
To obtain resources, Dr. Lee has contributed his patent in exchange for 125,000 shares of stock, invested $25,000 of his own funds, and convinced friends, colleagues, and relatives to invest an additional $325,000 at $1 per share. What are the resources and claims against resources?
On May 1, a prototyping firm delivered a prototype proof of concept of the product. How should the cost of the prototype be handled in the accounting records?
Think of the accounting equation as a way to frame your answer.
On May 1, a prototyping firm delivered a prototype proof of concept of the product. How should the cost of the prototype be handled in the accounting records?
Think of the accounting equation as a way to frame your answer.