<span>Purchased the patent for $170,000 in the beginning of 2011.Expected useful life is 10 years.Has a legal life of 17 years.Amortization expense = Cost/estimated useful life = $170,000/10 years = $17,000 per yea</span>
Answer:
personal finance and Financial literacy gives an advantage to exploit the financial products available nowadays and to manage the resources of a single person or a family in the best way possible to achieve their goals.
Answer:
Explanation:
When there are two factors used in producing a good, the least-cost rule specifies that costs have been minimized when the MPP of the first factor divided by its price is equal to the MPP of the second factor divided by its price.
The least cost rule evaluated two factors of production. Let's say labor and capital. production at least cost has the requirements that labor’s marginal product divided by its price is equal to capital’s marginal product divided by its price.
Answer:
30000
Explanation:
because I was a people that wice
Answer:
Credit inventory 1000 and debit COGS 1000
Explanation:
19*500=9500 <price it is recorded at currently
The rule requires lower cost - market vs. price. Since market cost is lower, you have to find out how much the ending inventory balance should be
17*500=8500
9500-8500=1000
The inventory booked should be lowered, thus requiring credit entry of 1000. Since it is a merchandise loss, it is counted towards cost of goods sold expense, thus debit
