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
Describe the actions of people and organizational leaders directly and indirectly involved with the tragedy. Specifically, addre
7nadin3 [17]

Explanation:

The ethical issues throughout the actions of these people and community members The first move was to provide help for the people affected when the disaster of Hurricane Andrew was resolved. The people in the affected areas and aid agencies have been involved. The treatment and ethics issue contributed to the offer of such relief. As far as the ethic of care is involved, individuals have a duty in respecting the health of others in distress. Thus, this kind of philosophy was followed in this situation by providing the resources to help those impacted by the hurricane with their welfare.

Homes were destroyed, and shelter was needed. Various organisations, however, were knowingly or unknowingly interested in providing food and clothing as well as other basic necessities for such men. However, the ethical issue was the main driving force behind search and rescue operations for those directly impacted by the incident.

An example is the Bahamas National Disaster Coordinator, who played a significant role in motivating their employees to ensure that they offered timely relief to the survivors. The local population was also mobilized as often as possible to support the crisis. It is also the nature of people to support if circumstances allow them to do it anyway face. Hurricane Andrew was a shocking event for the citizens of Bahamas and Louisiana, and therefore the care and compassion ethics had to inspire the local population and different organisations.

While massive property damage happened, the ethics have helped to reduce the number of victims significantly.

5 0
3 years ago
Sheffield Corp. sells its product for $70 per unit. During 2019, it produced 60000 units and sold 50000 units (there was no begi
jenyasd209 [6]

Answer:

$40

Explanation:

Calculation to determine what The per unit manufacturing cost under absorption costing is

The per unit manufacturing cost under absorption costing= $15 + $12 + $1 + ($720,000 / 60,000)

The per unit manufacturing cost under absorption costing= $15 + $12 + $1 +$12

The per unit manufacturing cost under absorption costing= $40

Therefore The per unit manufacturing cost under absorption costing is $40

8 0
3 years ago
According to research presented in class, Hill and colleagues demonstrated that during times of economic downturn women were mor
Artemon [7]

Answer:

A) Women wanted to make themselves feel better by buying nice things.

Explanation:

The idea of looking better made them feel better about the economic downturn. If everything else is going bad, at least they would have their looks intact which has a psychological impact on their confidence.

5 0
3 years ago
At the beginning of a year, a company predicts total direct materials costs of $1,020,000 and total overhead costs of $1,220,000
Dima020 [189]

Answer:

Predetermined manufacturing overhead rate= $1.961 per direct material dollar

Explanation:

Giving the following information:

At the beginning of a year, a company predicts total direct materials costs of $1,020,000 and total overhead costs of $1,220,000.

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 1,220,000/1,020,000

Predetermined manufacturing overhead rate= $1.961 per direct material dollar

5 0
3 years ago
Harlan Corporation deposits $225,000 every June 30th and December 31st in a savings account (beginning in the current year) for
Dmitry_Shevchenko [17]

Answer:

$1,419,327.22

Explanation:

The formula for calculating the Future Value (FV) of an Ordinary Annuity is used as follows:

FV = M × {[(1 + r)^n - 1] ÷ r} ................................. (1)

Where,

FV = Future value of the amount after 3 years = ?

M = Annuity  payment = $225,000

r = Semi annual interest rate = 4% ÷  2 = 2%, 0.02

n = number of periods the investment will be made = 3 × 2 = 6

Substituting the values into equation (1), we have:

FV = $225,000 × {[(1 + 0.02)^6 - 1] ÷ 0.02} =  $1,419,327.22

Therefore, Harlan Corporation will have $1,419,327.22 at the end of three years.

6 0
3 years ago
Other questions:
  • Among fields such as​ accounting, finance,​ marketing, and​ others, which has undergone the most change because of technology in
    6·1 answer
  • Adjusting Entries for Accrued SalariesGarcia Realty Co. pays weekly salaries of $26,500 on Friday for a five-day workweek ending
    7·1 answer
  • When you read a case, you should:
    6·1 answer
  • Meat​ Packers, Incorporated​ (MPI) preserves and packages various kinds of meats for transportation to grocery stores. To prepar
    14·1 answer
  • Cartersville Co. reports the following data:
    12·1 answer
  • An action for breach of warranty generally must be brought within four years of the breach.
    9·1 answer
  • Direct labor or machine hours may not be the appropriate cost driver for overhead in all areas of manufacturing due to the compl
    7·1 answer
  • Monty Corp. bought equipment on January 1, 2022. The equipment cost $360000 and had an expected salvage value of $65000. The lif
    12·1 answer
  • 5. If a company had $15,000 in net income for the year, and its sales were $300,000 for the same year, what is its profit margin
    9·1 answer
  • Which of the following statements/questions best illustrates communicating with candor?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!