1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Thepotemich [5.8K]
3 years ago
5

After several profitable years running her business, Ingrid decided to acquire the assets of a small competing business. On May

1 of year 1, Ingrid acquired the competing business for $378,000. Ingrid allocated $63,000 of the purchase price to goodwill. Ingrid’s business reports its taxable income on a calendar-year basis. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
Business
1 answer:
umka2103 [35]3 years ago
3 0

Answer:

question

1. how much amortization expense on the goodwill can Ingrid deduct in year 1,  year 2, year 3?

2. In lieu of the original facts, assume that Ingrid purchase only a phone list with a useful life of 5 years for $16,500.

How much amortization expense on the phone list can Ingrid deduct in year 1, year 2 and year 3?

Explanation:

The explanation is shown in the file attached. Thank you i hope it helps

Download docx
You might be interested in
Provide 8 factors that impede business ability of Africans
Sloan [31]

The factors that impede business ability of African can be liken to trade barriers experienced in African region.

Many potential entrepreneur have been discouraged from starting their enterprises because of various business impediment.

The factors that impede the business ability includes:

  • Lack of good road route to deliver goods.
  • High tax rate for local produced goods.
  • Very high rate of import duties.
  • Corruptions among officers with key position
  • Lack of support for Small & medium enterprises (SME)
  • Inaccessibility to finance for the business such as loan.
  • Unfavorable government policy or regulation on business corporation

Read more about this here

<em>brainly.com/question/2531460</em>

3 0
2 years ago
On January 12, 2021, Jefferson Corporation purchased bonds of Rose Corporation for $52 million at par and classified the securit
sineoko [7]

Answer:

Transaction gain = $16 million

Explanation:

Given:

Purchase amount = $52 million

December 31, 2021, bonds value = $46 million

October 3, 2022, bonds sold = $62 billion

Computation:

Using multi-step approach

Transaction gain = October 3, 2022, bonds sold - December 31, 2021, bonds value

Transaction gain = $62 million - $46 million

Transaction gain = $16 million

5 0
3 years ago
Abc manufacturers conducts commercial transactions across national boundaries. abc manufacturers would be classified as a(n) ___
Elina [12.6K]
The answer to this question is "International Business". This would be the classification when the ABC manufacturers conduct commercial transactions across the national boundaries. The international business includes all private and public commercial transactions between two or more regions which these regions are covered by the same political territories. The commercial transactions could include any form of investments, logistic, sales, and others.
7 0
3 years ago
Grey owns the surface rights for High Desert Ranch, which includes a house, a bunkhouse, and two barns. Industrial Mining Inc. o
Maslowich

Answer:

Industrial Mining

Explanation:

Industrial Mining is the one who is responsible for the damage as the industrial mining is the company who owns the project for drilling in the surface rights and to extract the oil but due to drilling wrongly, it leads to the surface subsides and the structure collapsed where as the Grey is not responsible as it owns the surface rights for the High desert bunch comprise of bunk house and house.

6 0
3 years ago
Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the pr
Ymorist [56]

Answer: (B) Product mix        

Explanation:

The product mix is one of the important element of the marketing mix as it offers a various types of product ranges in the market and when the company offers a large number of the product line availability in the market for the consumers the  this is known as the product mix.

The product mix is one of the important element for all the companies as it provide the complete image of the products and the brand of the specific organization in the market and it also helps in maintaining the consistency.    

 According to the given question, the Clorox sells the one of the 5 important product lines on the basis of the specific product mix dimensions as it s one of the important concept in the business model.

Therefore, Option (B) is correct answer.  

7 0
3 years ago
Other questions:
  • A bank sent out questionnaires to a simple random sample of customers asking whether they would like the bank to extend its hour
    5·1 answer
  • Enrico is a CPA for a large company. Recently, he noticed that the company's accounting records significantly overstated the amo
    10·1 answer
  • True/False
    8·1 answer
  • The multiplier effect occurs when an initial increase (or decrease) in autonomous expenditure produces a greater increase (or de
    15·1 answer
  • ​(Yield to​ maturity) A​ bond's market price is ​$900. It has a ​$1 comma 0001,000 par​ value, will mature in 1414 ​years, and h
    14·1 answer
  • A company produces three products from a joint production process:: A, B, and C. As a percentage of total sales value, a represe
    14·1 answer
  • Managers of Wendy's fast-food restaurants keep track of prices at competitors such as McDonald's, Burger King, and Arby's, knowi
    6·2 answers
  • g If it is difficult to substitute for a good in the short run, but easy in the long run, then _____ . Group of answer choices t
    7·1 answer
  • During a severe recession Congress passes legislation to cut taxes, this would be an example of a(n): g
    15·1 answer
  • the involvement of accounting professionals and management in accounting scandals resulted in congress passing the sarbanes-oxle
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!