Accounting- research and development adjusting entry?
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An adjusting entry question: Company A did some research and development for new products. They correctly expensed the research but have capitalized $154,000 of development expenses as an intangible asset. The account balances are: 1. Research and Development Expense $125,000 DR 2. Intangible Assets- $154,000 DR What is the adjusting entry?
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Answer:
debit research & dev exp $154,000 credit int asset $154,000
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Other answers
debit research & dev exp $154,000 credit int asset $154,000
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