Unformatted text preview: Computer, Inc., for use in Apple's existing product lines. The agreement provides for a royalty payment from Apple to Creative based on Apple's sales of products using the licensed technology. As of December 31, £45,000 is due under the agreement for actual sales made by Apple to date. (3) Creative pays many employee's on an hourly basis. As of December 31, there are 5,320 unpaid labor hours already worked, at an average hourly rate of £17. (4) The company estimates that utilities used during December, for which bills will be received in January, amount to £20,000....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11