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Business Law 301 - Second Semester 2011/12
Business Law and the Regulation of Business, Customized from the Tenth Edition, by
Mann and Roberts - Customized Edit
E18-12 (Modification A) (Loss Recognized in a Given Year, but Profit Expected on Total Contract) Modification - assume estimated remaining cost at 12/31/13 = $500,000. Contract price Less estimated total cost: Costs to date Estimated remaining cost Estima
EXERCISE 12-4 (1520 minutes) 1. Palmiero should report the patent at $900,000 (net of $600,000 accumulated amortization) on the balance sheet. The computation of accumulated amortization is as follows. Amortization for 2008 and 2009 ($1,500,000/10) X 2 .