Mini CorpAcquires a Patent from Maxi Co

question 79

Multiple Choice

Mini Corp.acquires a patent from Maxi Co.in exchange for 2,500 shares of Mini Corp.'s $5 par value ordinary shares and $75,000 cash.When the patent was initially issued to Maxi Co., Mini Corp.'s shares were selling at $7.50 per share.When Mini Corp.acquired the patent, its shares were selling for $9 a share.Mini Corp.should record the patent at what amount?

• A)$87,500
• B)$93,750
• C)$97,500
• D)$75,000

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Definitions:

Gastric Residual

The volume of fluid remaining in the stomach at a given time, often assessed in patients who are being fed through a tube.

Meconium Aspiration

The inhalation of meconium (first newborn feces) into the lungs before or during birth, which can cause respiratory distress.

NICU

An intensive care unit specializing in the care of ill or premature newborn infants.

Acid-Base

Refers to the mechanisms the body uses to maintain its normal pH balance, ensuring that metabolic processes function correctly.