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Bezzdna [24]
3 years ago
10

Gessner LLC patented a process it developed in the current year. The patent is expected to create benefits for Gessner over a 10

-year period. The patent was issued on April 15th and the legal costs associated with the patent were $43,000. In addition, Gessner had unamortized research expenditures of $15,000 related to the process. What is the total amortization expense Gessner may deduct during the current year?
Business
1 answer:
NNADVOKAT [17]3 years ago
8 0

Answer:

$4,350

Explanation:

Based on the amortization period, the duration of the patent would be 20 years or 10 years whichever is lower. So, in this question, we consider the useful life of 10 years

The computation is shown below:

= (Legal  costs associated with the patent + unamortized research expenditures) ÷ useful life in months × given months

= ($43,000 + $15,000) ÷ 120 months × 9 months

= $58,000 ÷ 120 months × 9 months

= $4,350

The nine months is calculated from April to December month. We assume that the books are closed on December month

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Samuel, Inc. has Accounts Receivable of $110,000 and an Allowance for Doubtful Accounts of $17,000. If it writes-off a customer
Allushta [10]

Answer:

the net account receivable is d.  $93,000

Explanation:

The computation of the net account receivable is shown below:

= (Account receivable - written off amount) - (Allowance for doubtful accounts - written off amount)

= ($110,000 - $1,700) - ($17,000 - $1,700)

= $108,300 - $15,300

= $93,000

Hence, the net account receivable is $93,000

We simply applied the above formula so that the correct value could come

And, the same is to be considered  

7 0
2 years ago
Bryan works as a salesman for jumbocorp. last year his sales target was $3 million and this year in an aggressive bid for growth
Leto [7]
<span>There are a couple of reasons why Bryan acted in an unethical manner. First, he may have low morals which could be traced to his upbringing or life challenges. He could also have acted this way due to the demands made upon him by his employer to increase sales so dramatically. The stress of keeping his job may have been greater than acting ethically.</span>
3 0
3 years ago
Century Real Estate’s primary broker is John Kerr. John is licensed as the broker of that company and he is licensed as a broker
fomenos

Answer:

The broker is doing two different jobs; so it is okay to have two different licenses.

Explanation:

In this case, since the broker is doing two different jobs then it is okay for him to have two different licenses. In a hypothetical case that the individual Broker was doing the same job role for two different companies then that would be considered a form of conflict of interest and may cause problems with both firms in the future. Since this is not the case, then he should not have any problem.

3 0
2 years ago
Capital structure decisions include determining: Group of answer choices The terms of a bond issue to fund a project. the amount
IgorC [24]

Answer:

The correct answer is letter "A": The terms of a bond issue to fund a project.

Explanation:

Capital structure is the mixture of a company's debt and equity to fund its long-term operations and growth. Common stock is the most common type of capital for publicly traded companies, which typically forms the majority of a company's stock ownership. Bonds are another firm companies raises funds from under a repayment promissory note. Capital structure helps investors to assess the optimal value of a firm's capital expense.

5 0
3 years ago
Gilson Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and
Ann [662]

Answer:

a. $2,020 Favorable

Explanation:

The computation of spending variance for direct materials in April is shown below:-

For computing the spending variance for direct materials in April first we need to find out the actual price per unit which is here below:-

Actual price per unit = Actual direct material ÷ Actual units purchased

= $49,086 ÷ $5,060

= $9.70

Spending variance for direct materials in April = (Actual price per unit - Standard price per unit) × Actual quantity

= ($9.70 - $10.10) × 5,060

= -$0.4 × 5,060

= $2,024 Favorable

which is closest to $2,020 Favorable.

3 0
3 years ago
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