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3 years ago

How does innovation promote economic growth?

1 answer:

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C. Innovation is the creation of new, original ideas. Inventors are usually described as innovative. New inventions create new markets.

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15. Assume that Bullen issued 12,000 shares of common stock, with a $5 par value and a $47 fair value, to obtain all of Vicker's

vodomira [7]

Answer:

$104,000

Explanation:

Note: <em>The full question is attached as picture below</em>

Fair value of net assets = Cash and receivables + Inventory + Land + Buildings (net) + Equipment (net) - Liabilities

Fair value of net assets = $70,000 + 210,000 + 240,000 + 270,000 + 90,000 - 420,000

Fair value of net assets = $460,000

Purchase consideration paid = 12,000*$47

Purchase consideration paid = $564,000

Goodwill recognized = Purchase consideration - Fair value of net assets

Goodwill recognized = $564,000 - $460,000

Goodwill recognized = $104,000

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3 years ago

Cushman Company had $800,000 in sales, sales discounts of $12,000, sales returns and allowances of $18,000, cost of goods sold o

patriot [66]

Answer:

Gross profit equals $420,000

Explanation:

To get gross profit , we only discount the cost of goods sold from the Total sales

Gross profit Formula= net sales – cost of goods sold

Gross profit =$800,000- $380,000

Gross profit =$420,000

We use sales returns and allowances, sales discounts and operating expenses to get net income.

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3 years ago

Barnes Books allows for possible bad debts. On May 7, Barnes writes off a customer account of $5,300. On September 9, the custom

Andreyy89

Answer:

The cash collection on September 9 is records by the entry:

Debit Cash $5,300

Credit Accounts Receivable $5,300

Explanation:

Barnes Books allows for possible bad debts. On May 7, the company writes off a customer account. The journal entry:

Debit Allowance for Doubtful Accounts $5,300

Credit Accounts Receivable $5,300

On September 9, the customer unexpectedly pays the $5,300 balance. The journal entries:

1. Debit Accounts Receivable $5,300

Credit Allowance for Doubtful Accounts $5,300

2. Debit Cash $5,300

Credit Accounts Receivable $5,300

3 0

3 years ago

Choose TWO of the responses that describe disadvantages of Roth IRAS

insens350 [35]

Answer:

You pay taxes upfront

the maximum contribution is low

Explanation:

UTP quiz

6 0

3 years ago

Lori prefers to purchase cosmetics at self-service drug stores as saleswomen at cosmetic counters in department stores intimidat

Stells [14]

Answer: Social comparison

Explanation:

The social comparison is one of the important theory in the society which state that the individual person can determine their own personal and the social importance by comparing their own qualities with the other people. The coal comparison is mainly proposed by the Leon festinger in the year 1954.

According to the given scenario, the self evaluation is basically conducted by the Lori is best illustrate example of the social comparison as people generally compared themselves with the other people for the purpose of self motivation and improvement.

Therefore, Social comparison is the correct answer.

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3 years ago