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frosja888 [35]
2 years ago
11

Ruby invents a new type of pillow and obtains a patent for it. Sleep-Time Inc. believes that Ruby’s pillow infringes on one of S

leep-Time’s previously patented products. Sleep-Time must file a challenge to Ruby’s patent withina. twenty years.b. nine months.c. the life of the inventor plus seventy years.d. no specific time.
Business
1 answer:
Deffense [45]2 years ago
3 0

Answer:

B) nine months

Explanation:

The federal government grants patents to inventors so that they have exclusive rights to make, use, sell, or offer to sell an invention for a limited time: design patents last 14 years, while if you actually create a product the patent will last 20 years.

The whole idea behind patents is to give the inventor the time needed to reap the benefits  of their inventory in order to replenish costs and make a profit before other companies can make generic copies of the invention.

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Highly Suspect Corp. has current liabilities of $401,000, a quick ratio of 1.50, inventory turnover of 3.70, and a current ratio
Scrat [10]

Answer:

$3,115,770

Explanation:

Given:

Current ratio = 3.60

Current liabilities = $401, 000

Quick ratio = 1.50

Inventory turnover = 3.70

Current ratio is calculated by dividing your current assets by your current liabilities.

                     Current\ ratio = \frac{Current\ Assets}{Current\ Liabilities}

                                     3.60 = \frac{Current\ Assets}{401, 000}

                     Current Assets = 3.60 × 401,000

                                               = $1,443,600

                    Quick\ ratio = \frac{(Current\ Assets\ -\  Inventory)}{Current Liabilities}

                    1.50 = \frac{1,443,600\ -\  Inventory}{401,000}

                    1.50 × 401,000 = 1,443,600 - Inventory

                    601,500 = 1,443,600 - Inventory

                    Inventory = 1,443,600 - 601,500

                                     = $842,100

                    Inventory\ Turnover = \frac{Cost\ of\ Goods\ Sold}{Inventory}

                    3.70 = \frac{Cost\ of\ Goods\ Sold}{842,100}

                    Cost of Goods Sold = 3.70 × 842,100

                                                      = $3,115,770

8 0
2 years ago
Microsoft and a smaller rival often have to select from one of two competing technologies, A and B. The rival always prefers to
Mrrafil [7]

Answer:

True

Explanation:

Microsoft matrix along with his rivals. There are two ways to use the technology. Microsoft and its rival can move simultaneously. The equilibrium strategy can be determined y pay off matrix. The both companies use pure strategy. The criteria for pure strategy is max-min and min-max. The max-min strategy means select least case from all the best cases and min-max is selecting the best case from all the least cases.

4 0
2 years ago
Mother & daughter jewelers breaches its lease with longview mall and vacates the premises six months before the end of the t
evablogger [386]

The answer to the question is use reasonable means to find a new tenant to mitigate damages. This particular approach is actually the preferred method when dealing with contract breaches, which is part of the duty to mitigate, applied to the landlord.

In this context, Longview Mall has a duty to find another tenant to ensure that the property does not sit empty for a long period of time (maximum 2 years).

5 0
1 year ago
Phips Co. purchases 100 percent of Sips Company on January 1, 20X2, when Phips' retained earnings balance is $320,000 and Sips'
Taya2010 [7]

Answer:

Phips' post-closing retained earnings balance on December 31, 20X2 = $577,000

Explanation:

Note: When 100% shares of a company is acquired it is treated as subsidiary and for its accounting equity method is used.

In that case all balances of subsidiary are added to balances of Parent company.

But if any dividend is received then such value is deducted from carrying value of investment, and any share in profit will be added to carrying value.

All the retained earnings balance is accumulated together of both companies.

Therefore closing balance shall be

Retained earnings balance of Sips at year end

= $120,000 + $20,000 - $8,000 = $132,000

Year end balance of Phips Alone

= $320,000 + 125,000 = $445,000

Total Retained Earnings at year end = $132,000 + $445,000 = $577,000

3 0
2 years ago
Last year, Mountain Top, Inc., purchased a coal mine at a cost of $900,000. The salvage value has been estimated at $100,000. Th
melisa1 [442]

Answer:

The Journal entry is as follows:

Depletion expense - Coal Deposit  A/c     Dr. $280,000

To Accumulated depletion -Coal Deposit                        $280,000

(To record the depletion expense for the current year)

Workings:

Depletion per ton = (cost - Salvage) ÷ Total units of production

                              = ($900,000 - $100,000) ÷ 200,000

                              =  $4 per ton

Depletion expense = Tonnage tons mined current year × Depletion per ton

                                = 70,000 tons × $4

                                = $280,000

6 0
2 years ago
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