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Basile [38]
3 years ago
9

Jorge purchased a copyright for use in his business in the current year. The purchase occurred on July 15th and the purchase pri

ce was $67,500. If the patent has a remaining life of 75 months, what is the total amortization expense Jorge may deduct during the current year?A) $0B) $4,950C) $5,400D) $10,800E) None of the choices
Business
1 answer:
ZanzabumX [31]3 years ago
5 0

Answer:

total amortization expense = $5400

so correct option is C) $5,400

Explanation:

given data

purchase price = $67,500

time period = 75 months

months  = 6th

to find out

total amortization expense

solution

we get here total amortization expense that is express as

total amortization expense = \frac{purchase\ price}{time\ period} ×months  ...............1

put her value we get

total amortization expense = \frac{67500}{75} × 6

total amortization expense = $5400

so correct option is C) $5,400

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Information concerning the unexpected resignation of one or more of the registrant's directors would be disclosed on which of th
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Answer: Form 8-K

Explanation:

An 8-K is a report the corporate changes that happens at an organization. The information given in form 8-K is important to the shareholders of the organization and also to the Securities and Exchange Commission.

Events such as bankruptcy, acquisitions, resignation of directors can all be seen in the report.

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3 years ago
List 2 ways in which constellations are used.
tangare [24]
In Ancient times, constellations were used to create and track the calendar so they knew when to plant crops and harvest them. Constellations were also used for navigation and to help sailors travel across oceans.
3 0
2 years ago
Read 2 more answers
The following table shows a portion of a three-year amortization schedule. A 3-year amortization schedule. The loan amount or pr
larisa [96]

The correct statement is that at the end of two years a total interest of 1246.10 has been paid  on a principal of $11940, where the interest rate is 7.45 percent. So, the correct option is B.

The calculation on monthly payment of interest can be done by ascertainment of the interest paid for two years and division of such amount by total number of months.

<h3>Calculation of Monthly Payment</h3>

We know that the interest to be paid for the first year will be close to $902 and that for the second year will be calculated as follows,

\rm Interest for\ Second\ Year= Monthly\ Payment\ x\ 12\\\\\rm Interest for\ Second\ Year= 28.69\ x\ 12\\\\\rm Interest for\ Second\ Year= \$344.28

So, the total interest paid at the end of the second year will be,

\rm Total\ Interest\ for\ Two\ Years= Interest\ for\ One\ Year+ Interest\ for\ Second\ Year\\\\\rm Total\ Interest\ for\ Two\ Years= 902+344.10\\\\\rm Total\ Interest\ for\ Two\ Years= \$1246.10

So, the total interest paid fully at the end of two years will be $1246.10

Hence, the correct option is B that the  total interest of 1246.10 has been paid  on a principal of $11940 at the end of two years upon monthly payments of such years.

Learn more about monthly payment here:

brainly.com/question/22891559

5 0
2 years ago
The manufacturing cost of Calico Industries for three months of the year are provided below. Total Cost Production (units) April
elena55 [62]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Total Cost Production (units)

April $119,400 281,300

May 92,000 162,800

June 99,000 238,000

<u>To calculate the variable cost per unit and the total fixed cost, we need to use the following formula:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (119,400 - 92,000) / (281,300 - 162,800)

Variable cost per unit= $0.231

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 119,400 - (0.231*281,300)

Fixed costs= $54,701

7 0
3 years ago
In the current year, Borden Corporation had sales of $2,190,000 and cost of goods sold of $1,295,000. Borden expects returns in
NNADVOKAT [17]

Answer:

The entries are as follows

To record estimated returns on Sales

Debit: Sales Refund Payable Account $131,400

Credit: Accounts Receivables $131,400

To record estimated Cost of Sales returns

Debit: Inventory Returns Estimated Account $77,700

Credit: Inventory on Sales on Returns $77,700

Explanation:

To derive the figure for Sales Refund payable for the year

6% of $2,190,000

= \frac{6}{100} * 2,190,000 = $131,400

To derive the figure for Inventory cost on Sales Refund payable for the year

6% of $1,295,000

= \frac{6}{100} * 1,295,000 = $77,700

3 0
2 years ago
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