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mestny [16]
3 years ago
8

Ruth gives Seth a computer as a gift. Using the computer, Seth develops a new game, for which he obtains intellectual property p

rotection, and forms Top Games, Inc., to make and market it. Seth's acquisition of the game is by
Business
1 answer:
forsale [732]3 years ago
8 0

Answer:

production

Explanation:

Based on the information provided within the question it can be said that Seth's acquisition of the game is by production. This is the process of completely creating from scratch the idea that leads to the product. Which is what Seth did since he developed the game from zero. Using the computer that was gifted to him as a tool.

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Assume equity at the beginning of the accounting period was $120,000 and at the end of the period it was $175,000. Drawings by t
guapka [62]

Answer: $85,000

Explanation:

Drawings are debited/deducted from the Equity account to reflect that the owner's holdings in the business has reduced.

Profit is added to the Equity account in the form of Retained Earnings.

The closing Balance on Equity is;

Closing Balance = Opening Balance + Profit - Drawings

Profit = Closing Balance - Opening Balance + Drawings

Profit = 175,000 - 120,000 + 30,000

Profit = $85,000

8 0
3 years ago
Which person(s) should decide upon the problem statement the team will be working toward? The team’s leader
Basile [38]
<span>Which person should decide upon the problem statement the team will be working toward? All group members. All group members should be working towards the problem statement, problems, and anything resulting a team project. The project is in a team format for a reason, so that everyone works together.

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8 0
3 years ago
What identifies the pattern used for each data series in a chart
goldenfox [79]
<span>a legend identifies the pattern

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8 0
3 years ago
Which of the following is a true statement about the U.S. workplace? A. It has changed little over the past 110 years. B. Today'
Nonamiya [84]

<span>The correct answer is C. Retail and communications firms are on the decline.</span>

With technology becoming easily accessible to all people in all walks of life, consumers are finding it easier to do everything with their mobiles and computers. Communicating is as easy as sending a chat message and buying items online is definitely more appealing that spending time in a physical shop.

 

8 0
3 years ago
Read 2 more answers
Which of the following statements regarding the accounting for business combinations is false?
steposvetlana [31]

Answer:

Option A

Explanation:

Although goodwill is the difference between the consideration transferred by the acquirer to the acquiree it is not the fair value of the identifiable assets acquired rather it is the fair value of the net assets acquired.

The difference is fair value of identifiable assets is the value of the assets at some point of time which is expected to provide some future benefits.

The fair value of the net assets acquired is the total of the fair value of net assets minus liabilities.

7 0
3 years ago
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