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lisov135 [29]
3 years ago
14

Kleen Company acquired patent rights on January 10 of Year 1 for $2,800,000. The patent has a useful life equal to its legal lif

e of eight years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $38,000. a. Determine the patent amortization expense for Year 4 ended December 31. $ b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization. If an amount box does not require an entry, leave it blank.
Business
1 answer:
Dmitry_Shevchenko [17]3 years ago
3 0

Answer:

Explanation:

a    

Patent amortization expense= (2800000/8)+(38000/5) =357600

b    

Dr Amortization expense 357600  

       Cr Patents  357600

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If an organizational manual exists, a description of the division of work and the position shown on the organization chart will
allsm [11]
If an organizational manual exists, a description of the division of work and the position shown on the organization chart will be given in the manual or will be located on the company's intranet.

A) True
7 0
4 years ago
You receive a voice mail from your supervisor asking you to compile a list of talking points for an upcoming interview on the Mo
tankabanditka [31]

a. Look in the files

c. Talk with your boss

b. Conduct an informal survey

Explanation:

You receive a voice mail from your supervisor asking you to compile a list of talking points for an upcoming interview on the Morning News Show. The best informal information gathering technique to find out the details of what your boss expects would be to -

  1. Look in the files
  2. Talk with your boss
  3. Conduct an informal survey
3 0
3 years ago
Cranford Company completed and transferred out 2,700 units in May 2016. There were 300 units in the Work-in-Process Inventory on
Lynna [10]

Answer:

The cost of the work transferred-out during May is $18,630

Explanation:

For computing the cost of work transferred, first we have to compute the conversion cost per unit and material cost per unit

The conversion cost per uni = Conversion cost ÷ (transferred units + work in progress)

= $11,160 ÷ (2,700 + 300 × 30%)

= $11,160 ÷ (2,700 + 90)

= $11,160 ÷ 2,790

= $4 per unit

Now, material cost per unit = Material cost ÷ (transferred units + work in progress)

= $8,700 ÷ (2,700+300)

= $8700 ÷ 3,000

= $2.9 per unit

So, total cost of the work transferred is equals to

= Transferred units × conversion cost per unit + transferred units × material cost per unit

= 2,700 × $4 + 2,700 × $2.9

= $10,800 + $7,830

= $18,630

Hence, the cost of the work transferred-out during May is $18,630

6 0
3 years ago
When experiences are insufficient and the risk of making a wrong decision i high, a consumer is more likely to use _____________
Aleksandr-060686 [28]

CORRECT ANSWER:

An external search.

STEP-BY-STEP EXPLANATION:

Where past experience or expertise is inadequate, there is a high risk of making a wrong buying decision and a low cost of gathering information. We have 3 primary sources.

The primary sources of external information are

1-personal sources

2-public sources

3- marketer-dominated sources

8 0
3 years ago
Read 2 more answers
Stryker Industries received an offer from an exporter for 27,000 units of product at $17 per unit. The acceptance of the offer w
Aloiza [94]

Answer:

$162,000

Explanation:

Income Statement - New Offer

Sales (27,000 x $17)                                           $459,000

Less Variable Costs of the offer :

Variable manufacturing costs (27,000 x $11)  ($297,000)

Net Income (Loss)                                               $162,000

therefore,

the amount of income  from the acceptance of the offer is $162,000

7 0
3 years ago
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