Answer:
A) FMEA
Explanation:
the project is moced developing the make list
Oct 13........................No Journal Entry Required
Oct 17. Cash..........................................DR $107
To Accounts Receivable........................................ $107
(Being cash received by Accounts Receivable)
Oct 22. Inventory....................................DR $1145
To Accounts Payables.......................................... $1145
(Being Purchases made of Chairs and Oil Supplies)
Oct Accounts Payable...........................DR $1145
To Cash............................................................ $1145
(Being Cash paid for purchases made)
Answer:
$229,400
Explanation:
Here for computation of charged to income (expense and loss) first we need to find out the total cost of the patent and amortization expenses for three year which is shown below:-
Total cost of the patent = Patent cost + Legal and filing fees
= $202,000 + $70,000
= $272,000
Amortization expense for three years = Total cost of the patent ÷ Useful life × 3 years
= $272,000 ÷ 10 × 3 years
= $81,600
Net Patent cost = Total cost of the patent - Amortization expense for three years
= $272,000 - $81,600
= $190,400
Now,
The amount charged to income (expense and loss) in 2024 related to the patent = Net Patent cost + Incurred legal fees
= $190,400 + $39,000
= $229,400
Therefore for computing amount to be charged to income we simply added the net patent cost and the legal fees spend
