Answer:
Date Particular DR CR
a. Patent $214,500
Cash 214,500
<em>Being total payment for the exclusive right </em>
<em>to produce X-core machine </em>
b. Brand name 260,000
Exercise Equipment 403,000
cash 663,000
<em>Being the payment for the brand name of Silver Gym </em>
<em>and exercise equipment </em>
<em>c. </em>Copyright 22,000
Cash 22,000
<em>Being the payment for the exclusive right to sell Healthy book</em>
Explanation:
there is no journal enrty for the amount to be paid to Silver Gym on a monthly basis when the sales begin because the money has not been paid.
Answer:
The cattle industry began in the far west and furnished the great plain areas with livestock. The cattle industry progressively lost its relevance because of the excessive westward expansion, resulting in competition for the industry. There was too much cattle, but not enough food and land to sustain such great populations of livestock.
Answer:
$76,050
Explanation:
Given that,
cash price = $60,700
assumed accrued taxes = $5,260
attorney’s fees = $2,170
real estate broker’s commission = $3,310
clearing and grading = $4,610
Cost of the land:
= cash price + assumed accrued taxes + attorney’s fees + real estate broker’s commission + clearing and grading
= $60,700 + $5,260 + $2,170 + $3,310 + $4,610
= $76,050
