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    Record Patents for Alonzo Co.

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    Alonzo Co. acquires three patents from Shaq Corp. for a total of $360,000. The patents were carried on Shaq's books as follows: Patent AA: $5,000; Patent BB: $2,000; and Patent CC: $3,000. When Alonzo acquired the patents, their fair market values were: Patent AA: $20,000; Patent BB: $240,000; and Patent CC: $60,000. At what amount should Alonzo record Patent BB?

    Which of the following is the answer?
    $120,000
    $240,000
    $2,000
    $270,000

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    https://brainmass.com/business/marketing/record-patents-for-alonzo-co-381886

    Solution Preview

    The patent would be recorded in proportion of the fair market ...

    Solution Summary

    This solution helps with a question about record patents.

    $2.19

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