Answer: Amortization Expense; Patents
Explanation:
The entry to record the amortization of a patent would include a debit to the amortization expense and a credit to the patents.
The journal entry will be:
Debit Amortization expenses XX
Credit Patents XX
Therefore, the correct option is A.
Answer & Explanation:
Account Type of Account Increase side
Supplies Asset Debit
Retained Earnings Capital Credit
Fees Earned Revenue Credit
Accounts Payable Liability Credit
Salary Expense Debit
Common Stock Asset Debit
Account Receivable Asset Debit
Equipment Asset Debit
Notes Payable Liability Credit
Answer:
B) Student Aid Report (SAR)
Explanation:
This is the report you get after completing the government provided FAFSA.
Answer:
The amount of raw materials transferred to work in process is $98,000.
Explanation:
Given that, at the beginning of its business operations, Fortune Company had a raw material inventory of $ 16,000 and that, during the business year, it acquired another quantity of raw materials for $ 92,000, the total of raw materials in the company's stock had a total value of $ 108,000 (16,000 + 92,000).
Now, if at the end of the balance the value of the raw materials was $ 10,000, the amount of raw material that was incorporated into the production process was a value of $ 98,000 (108,000 - 10,000).
Hi.
I think the answer is the idea of opportunity cost.
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