Answer:
Explanation:
The journal entry is shown below:
Amortization expense - Patent A/c Dr $32,380
To Patent A/c $32,380
(Being amortization expense for the first year is recorded)
The computation is shown below"
= Purchase cost of patent ÷ estimated useful life
= $161,900 ÷ 5 years
= $32,380
For the intangible assets, the amortization expense is considered,not the depreciation expense and the same is to be taken.
anything of value to consumers
Answer: Lead generation
Explanation: In simple words, lead generation refers to the process under which an entity tries to make their potential customers interested in their product for the first time. It can also be seen as the initiating step in building the customer base.
In the given case, the Texas department is trying to attract tourists to visit their state. It is the first time they are trying to do so by inviting the readers of magazines.
Hence from the above we can conclude that the primary purpose of their ad was lead generation.
Answer:Worthy journal $
Date
March 14, 2022
Bad debt Dr 2600
Receivable Cr 2600
Narration. Record of receivables written off to income account on account becoming unrecoverable.
Explanation:
The direct method of written off bad debts do not make provision for estimate of receivables that are likely to go bad in which the estimate is recognised as debit to income statement and the corresponding credit entry is used to reduce the receivables, with adjustment been made at the year end for variances.
In the direct method the actual bad debts is debited in the income s statement and credited to the receivables accounts.
Answer:
I think ur answers are A, B, and C.
Explanation:
Hope this helps!
