Answer:
It means exchange for good or service without using any money
Answer:
Lease
Explanation:
A company is just getting started and needs new equipment but does not have a large amount of cash since the company business will also require frequent updating of the equipment it is better to lease the equipment.
If Power industries has acquired a patent for $16,000. its useful life is expected to be four years. The yearly journal entry to recognize periodic amortization is: Debit Amortization Expense - Patents $4,000; Credit Patents $4,000.
<h3>Journal entry </h3>
If the company has acquired a patent for the amount of $16,000 in which the useful life is expected to be four years. The appropriate journal entry to recognize periodic amortization is:
Power industries journal entry
Debit Amortization Expense - Patents $4,000
Credit Patents $4,000
($16,000/4 years)
(To record periodic amortization recognized)
Therefore the yearly journal entry to recognize periodic amortization is: Debit Amortization Expense - Patents $4,000; Credit Patents $4,000.
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Answer:
1. closing inventory = (10+20+15)= 45 -15 =30units *$11.33 =$340.80
2. Closing inventory = $378
Explanation:
1) WAM = (cost of purchases - returns)/ (units purchased -returns)
=[ (10*6)+(20*12)+(15*14)]/(10+20+15
=$510/45
=$11.33
2. Specific Identification Method = $378
7 Dec (10 - 8) = 2 units *6 =$12
14 Dec (20-7) =13 units *12 =$156
25 Dec 15*14 =$210
Spending plans are divided into three categories with roughly 50 % of the after tax budget going to the category of needs and 30% of the after tax budget going to wants, with the rest going to 20 % .
<h3>What is the 50-30-20
budget method?</h3>
The 50-30-20 approach that is often used in budgeting is known to be one one the of the simplest and very straight way in the aspect of money management options.
Note that this ideal is often made for those who need to form a budget but they are said to not possess the time or the patience to be able to keep track of their spending in a well detailed manner.
The ways is that one need to spend 50 percent of their after-tax pay on needs, 30 percent in regards to wants, and the last 20 percent in regards to savings or paying off any kind of debts.
Hence, Spending plans are divided into three categories with roughly 50 % of the after tax budget going to the category of needs and 30% of the after tax budget going to wants, with the rest going to 20 % .
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