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lora16 [44]
2 years ago
12

On January 2, Boulder Co. assigned its patent to Castle Co. for royalties of 10% of patent-related sales. The assignment is for

the remaining 4 years of the patent’s life. Castle guaranteed Boulder a minimum royalty of $100,000 over the life of the patent and paid Boulder $50,000 against future royalties during the year. Patent-related sales for the year were $300,000. In its income statement for the year, what amount should Boulder report as royalty revenue?
Business
1 answer:
Tema [17]2 years ago
6 0

Answer:

$30,000

Explanation:

The computation of the royalty revenue reported is shown below:

= Patent-related sales for the year ×  given percentage

= $300,000 × 10%

= $30,000

The revenue is recognized when it is earned or realized so only $30,000 is to be reported as the royalty revenue

The remaining amount i.e $20,000 would be treated as an unearned royalty revenue

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Justin’s plan doesn’t cover his costs completely. What are his options for covering the rest of his costs? Select all that apply
spin [16.1K]

Available Options:

He could try to save more money.

He could get a student loan for the extra amount he

needs.

TO He could apply for a scholarship

He could ask his friends to loan him money.

He could ask his family to contribute.

Answer:

All of the above    

Explanation:

The best option is to be self reliant which means that Justin must apply for scholarships, save money now and during the program execution and if still there are any expenses due then he can ask his family to contribute to meet his exense and still if there are unpaid expenses then he can borrow from his friends if he thinks that he can repay the loan to his friends in the mutually agreed time. If Justin can not pay its amount borrowed then he must consider long term loan option to fund his studies.

The order of finance is given as under:

  1. Save Money
  2. Scholarship
  3. Ask his Family
  4. Loan from Friend
  5. Long term Loan
5 0
2 years ago
Read 2 more answers
From the list below, which items are classified as a materials activity:
Katena32 [7]
Im gonna go with e sorry if it’s wrong
6 0
3 years ago
Recommend further strategies companies woolworths in south africa may use to protect the environment
djverab [1.8K]

They are committed to sending less waste to landfills, recycling as much as possible, and using recyclable materials wherever possible.

Some Recycling Methods to Reduce Waste From recycled plastic shopping carts to signage, everything in the store is made from recycled materials.

We care about the environment and strive towards a zero net impact and transition to a low-carbon future. We care about how our products are made and are committed to a completely transparent, traceable, and ethical supply chain.

Conclusion Woolworths has a potential customer retention marketing strategy. Geographic segmentation is the company's greatest strength. However, the price competition facing the organization in the Australian market is very dominant.

Learn more about The environment here:-brainly.com/question/24182291

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3 0
1 year ago
To save for​ retirement, a student invests ​$60 each month in an ordinary annuity with 6 % interest compounded monthly. Determin
professor190 [17]

Answer:

The student invests $60 each month and the interest rate is 6%. The interest rate is compounded monthly so we will take the interest rate as 0.5% (6/12).

The number of periods will be 420 (35*12) as the payments are made every month.

The present value is 0 as he is not making any investment at the start.

We need to find the future value of these payments, and for that we need to put these values in a financial calculator

PV= 0

PMT= 60

I= 0.5

N=420

Compute FV

FV=85,482

The total accumulated amount in the students annuity will be $85,482.

Explanation:

6 0
3 years ago
Robert started his company in his parents' garage because he could not afford to rent an office space. Most of his finances were
Levart [38]

Answer:

having lower overhead costs.

Explanation:

Robert started his company in his mother's garage so he did not have to pay rent or lease at the initial stage of his business. This gave him the opportunity to put his finances in essential aspects of his business.

Therefore he had an opportunity to reduce his overhead cost.

4 0
2 years ago
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