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Business, 10.10.2019 00:30 lilly9240

An entity incurs the following costs in connection with the purchase of a trademark: purchase price of the trademark $ 80,000 nonrefundable value added tax paid on the purchase of the trademark 4,000 training sales department staff on the use of the trademark 2,000 research expenditures incurred prior to the purchase of the trademark 15,000 legal fees to register the trademark 8,000 salaries of personnel who negotiated the purchase of the trademark 10,000 during the period of negotiation assuming that the trademark meets the criteria for recognition as an intangible asset, at what amount should the trademark be initially measured?

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An entity incurs the following costs in connection with the purchase of a trademark: purchase price...
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