Purchase priceNonrefundable value added taxTraining of personnel on the use of new trademarkResearch expenditures associated with thepurchase of the new trademarkLegal cost incurred to register the new trademarkAdministrative salaries1,000,00050,00070,000240,000105,000120,000What amouont should be reported as initial cost of thetrademark?1,000,000b. 1,155,000c. 1,465,000a.

Only those expenses which are directly associated with the registration of a new trademark either…

Answered: trative salaries 105,000 120,000 What…

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trative salaries 105,000 120,000 What amouont should be reported as initial cost of the trademark? a. 1,000.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Purchase price
Nonrefundable value added tax
Training of personnel on the use of new trademark
Research expenditures associated with the
purchase of the new trademark
Legal cost incurred to register the new trademark
Administrative salaries
1,000,000
50,000
70,000
240,000
105,000
120,000
What amouont should be reported as initial cost of the
trademark?
1,000,000
b. 1,155,000
c. 1,465,000
a.

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