Answer:
$22,500
Explanation:
Data given in the question
Purchase value of the patent = $175,000
Legal fees = $5,000
The Remaining life of the patent = 13 years
Expected using life of the patent = 8 years
So by considering the above information, the annual amortization expense for 2019 is
= (Purchase value of the patent + Legal fees incurred) ÷ (Expected using life of the patent)
= ($175,000 + $5,000) ÷ (8 years)
= $22,500
Answer:
Yes this sequence of transaction is considered as a day trade.
Explanation:
As per the definition of the day trading, <em>Day trading is defined as the purchase and sale of a security within a single trading day. It can occur in any marketplace but is most common in the foreign exchange (forex) and stock markets.</em>
As per this definition, the trading has to be done such that the purchase and sale is made on the same day. As indicated in the question ,this is the case so the given sequence of transactions is a day trade.
The amount of the payment on May 12 will be the full amount of $230.00
6/10 n/30 means a 6% discount <em>if </em>paid within 10 days and the net amount is due within 30 days. Since the payment was made after 10 days there would be no discount, just the full amount due.
Answer:
Current year cost of goods sold is $181,800.
Explanation:
The current year cost of goods sold is calculated as follows:
Current year cost of goods sold = Last year cost of goods sold + Current year change
= $180,000 + ($180,000 * 1%)
= $180,000 + $1,800
= $181,800
Therefore, current year cost of goods sold is $181,800.
Answer: Cross-functional
Explanation:
A cross-functional team is a group of organization that works together to achieve a functional goal. Toyota, Ford, and Cisco are doing so in this narrative.
