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3 years ago

15

An establishment owned by two or more persons in which only one person has unlimited personal liability for the business describ

es what kind of partnership

1 answer:

chubhunter [2.5K]3 years ago

4 0

Limited partnerships

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Marin Industries had one patent recorded on its books as of January 1, 2020. This patent had a book value of $201,600 and a rema

konstantin123 [22]

Answer:

The patent should be reported at $302,400 on the December 31, 2020, balance sheet.

Explanation:

Remaining useful life in month of patent on January 1, 2020 = 8 * 12 = 96 months

Remaining useful life in month of patent on December 1, 2020 = 96 - 11 = 85 months

Amortization of book value of patent in 2020 = (Patent Book value / Remaining useful life in month of patent on January 1, 2020) * 12 = ($201,600 / 96) * 12 = $25,200

Amortization of legal cost in 2020 = (Legal cost / Remaining useful life in month of patent on December 1,, 2020) * 1 = ($127,500 / 85) * 1 = $1,500

Carrying amount of patent = Patent Book value + Legal cost = $201,600 + $127,500 = $329,100

Patent book value on December 31, 2020 = Carrying amount of patent - Amortization of book value of patent in 2020 - Amortization of legal cost in 2020 = $329,100 - $25,200 - $1,500 = $302,400

Therefore, the patent should be reported at $302,400 on the December 31, 2020, balance sheet.

8 0

3 years ago

When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold, the tax has.

Dmitry_Shevchenko [17]

When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold, the tax has caused a deadweight loss.

<h3>What is meant by deadweight loss?</h3>

The gap between the production and consumption of any given good or service, including taxes, is referred to as deadweight loss in economics. Deadweight loss is most frequently detected when the quantity generated compared to the quantity consumed deviates from the ideal surplus concentration.
Overproduction of commodities results in a loss of money. For instance, a baker might only sell 80 of the 100 loaves of bread they produce. There will be a deadweight loss since the 20 remaining loaves will become moldy and dry, and they will need to be thrown away.
The loss in economic activity that results when the market pricing of products or services change negatively affects consumers and businesses is referred to as deadweight loss.
You need to know the change in price and the change in quantity demanded in order to compute deadweight loss. Deadweight Loss is calculated using the following formula:. 5 * (P2 - P1) * (Q1 - Q2).

When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold, the tax has caused a deadweight loss.

To learn more about deadweight loss, refer to:

brainly.com/question/21335704

#SPJ4

8 0

11 months ago

Firms that are ________ recognize that including a strong social orientation in business is a sound strategy that is in the best

kifflom [539]

Answer:

Socially Responsible

Explanation:

4 0

2 years ago

A company that reports segment information had average total assets of $1,530,450 and total net income of $602,700. Segment A ha

antoniya [11.8K]

Answer: 0.32 times

Explanation: Return on assets can be defined as the ratio under which companies are evaluated on the basis of total amount of assets investment. It is a ratio that evaluates the profitability of a company, it shows the ability of a company to generate revenue from the assets invested in it.

It can be computed as following :-

$=\:\frac{NET\:INCOME}{AVERAGE\:TOTAL\:ASSETS}$

$=\:\frac{\$304,300}{\$931,800}$

= 0.32 times

6 0

2 years ago

How does having a flexible mind help you become a better employee?

likoan [24]

Well you can ask yourself which of these answers have to do with having a flexible mind. I would say having a flexible mind
helps you become a team player
because in order to work with other people you must have a flexible mind.

8 0

2 years ago