Safari File Edit View Window Help ? 44%E Tue 2:10 AM WileyPLUS Kieso, Intermedia

Question

Safari File Edit View Window Help ? 44%E Tue 2:10 AM WileyPLUS Kieso, Intermediate Accounting, 16e INTERMEDIATE ACCOUNTING 1 & ? (310/311/312) ome Read, Study&Practice; Gradebook ORION Downloadable eTextbook ssignment > Open Brief Exercise 12-12 Flint Corporation incurred the following costs in 2017 Cost of laboratory research aimed at discovery af new knowledge Cost of testing in search for product alternatives Cost of engineering activity required to advance the design of a Intangibles Chapter 12 $120,000 106,000 Brief txercise 12-4 product to the manufacturing stage 256,000 $482,000 Prepare the necessary 2017 journal entry or entries for Flint. (Credit account titles are If no entry Iis required, select "No Entry" for the account titles and enter @ for the automatically Indented when amount is entered. Do not Indent manually Brief Exerciss 12-1 Titles and Explanation ?Exercise 121 Click if you would like to Show Work for this question: Qpen Show Work Exeroise 12-9(Part 5 MacBook Pro 20, 7 8

Explanation / Answer

Accounts Titles and Explanation Debit Credit Research and Development Expenses $482,000 Cash $482,000 Activities included in research and development expenses of the cost of Laboratory research aimed at discovery of new knowledge, Searching for applications of new research findings or of other knowledge, Modification of the formulation or design of a product or process etc so it the above cost incurred by the Flint corporation are included in R&D expenses.

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