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3 years ago

On January 2, 2019, Adelphi Company purchased a patent for $235,000 plus

Business

1 answer:

Ymorist [56]3 years ago

4 0

Answer:

The annual amortization expense for 2019 will be $35000.

Explanation:

The amortization expense for the patent calculated based on the useful life of patent. The purchase of value of $235000 plus $10000 gives the total value of $245000 while use the patent of 7 years.

The formula for amortization expense = (Cost of patent - Residual value ) / Useful life of patent)

amortization expense = ($245000-0)/7 = $35000

The legal life would not count due patent in business use for limited life compare to legal life of patent.

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Josephine is a teenager who works part-time to make money to pay for the upkeep of her car, gasoline, and car insurance. she als

tino4ka555 [31]

Answer:

The correct answer is: in retail.

Explanation:

To begin with, if Josephine is a teenager who works part-time to make money for her own expenses and also she is like most of american youth who hold part-time jobs then the most probable place to work is in retail, where many teenagers are required due to the fact that the majority of the jobs given in that area are for people who do not need many skills or abilities and therefore that the common action to take is to hire young people to pay low salaries for part-time jobs.

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3 years ago

Read 2 more answers

Anita is developing a website for her photography business. On the home page, she wants to include a link to another webpage in

kotegsom [21]

Relative link can be inserted.

A relative link thinks that the page to which you're connected is the website and folder to which you've posted the web page. This link is under the same website URL and folder (Articles) as this page, thus we only refer to it by this link. There are two advantages of using relative references versus absolute references.

A Relative Reference is a partial http address that is a portion of a whole directory path. Remember that if no server name or path is supplied in html, the file reference will default to the current directory.

Therefore the answer is relative link.

To know more about relative link click here:

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2 years ago

Mills Corporation acquired as an investment $225 million of 8% bonds, dated July 1, on July 1, 2021. Company management is holdi

Sholpan [36]

Answer:

Please see solution below.

Explanation:

July 1, 2021

Dr Investment in bonds $225,000,000

Dr Premium on investment in bonds $25,000,000

Cr Cash $250,000,000

December 31, 2021

Dr Cash $18,000,000

Cr Interest revenue $15,000,000

Cr Premium on investments in bonds

$3,000,000

Investment in bonds. $225,000,000

Premium on investment in bonds $22,000,000

January 2, 2022

Dr. Cash $266,000,000

Cr Investment in bonds $225,000,000

Cr Premium on investment in bonds $22,000,000

Cr Gain on sale of investments $19,000,000

Workings:

Effective interest rate on first coupon received = [ $225,000,000 × 8%] - [ $250,000,000 × 6%]

= $18,000,000 - $15,000,000

= $3,000,000

Premium on investment in bonds = $25,000,000 - $3,000,000

= $22,000,000

8 0

3 years ago

Doug Stamper just received an insurance settlement offer related to an accident he had several years ago. The offer gives Stampe

sladkih [1.3K]

Answer:

Doug Stamper

The CORRECT statement is:

b. Option A is the best choice because it has the largest present value.

Explanation:

a) Data and Calculations:

Option A: $2,000 per month for 84 months is worth PV = $136,906.08:

N (# of periods) 84

I/Y (Interest per year) 6

PMT (Periodic Payment) 2000

FV (Future Value) 0

Results

PV = $136,906.08

Sum of all periodic payments $168,000.00

Total Interest $31,093.92

Option B: $1,100 per month for 15 years is worth PV = $130,353.87:

N (# of periods) 180

I/Y (Interest per year) 6

PMT (Periodic Payment) 1100

FV (Future Value) 0

Results

PV = $130,353.87

Sum of all periodic payments $198,000.00

Total Interest $67,646.13

Option C: $125,000 lump sum today is equal to PV.

5 0

2 years ago

Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, a

maw [93]

Answer:

Income statement for year 1

Service revenue $180,000

Operating expenses:

Employees salaries $85,000
Utilities $32,500
Insurance expense $19,500 <u>$137,000</u>

Net income $43,000

Income statement for year 2

Service revenue $230,000

Operating expenses:

Employees salaries $95,000
Utilities $30,000
Insurance expense $19,500 <u>$144,500</u>

Net income $85,500

Year 1 accounts receivable balance = $180,000 - $155,000 = $25,000

Year 2 accounts receivable balance = $230,000 - $185,000 + $25,000 = $70,000

Cash flows from operating activities year 1:

Net income $43,000

Adjustments to net income:

Increase in accounts payable $5,000

Increase in accounts receivable ($25,000)

Increase in prepaid insurance ($39,000)

Net cash provided by operating activities ($16,000)

Cash flows from operating activities year 1:

Net income $85,500

Adjustments to net income:

Decrease in prepaid insurance $19,500

Increase in accounts receivable ($45,000)

Decrease in accounts payable ($5,000)

Net cash provided by operating activities $55,000

4 0

3 years ago