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Ainat [17]
3 years ago
14

Joni Kingbird Inc. has the following amounts reported in its general ledger at the end of the current year.

Business
1 answer:
Kazeer [188]3 years ago
8 0

Answer:

Total amount reported for intangible assets: $90,400

Explanation:

An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets. Intangible assets exist in opposition to tangible assets, which include land, vehicles, equipment, and inventory

Among the listed items, tangible assets in Joni Kingbird Inc. include Trademarks of 14,300 and Excess of cost over fair value of net identifiable assets of acquired subsidiary 76,100. The total intangible asset is $90,400 .

Deposits with advertising agency for ads to promote goodwill of company 11,100, will not book in intangible asset as it’s just deposit now, the total cost after this work is completed will then book in intangible asset.

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valentina_108 [34]

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5 0
2 years ago
Read 2 more answers
A company is hiring professionals for web designing. The firm is small with few resources. They want employees who possess probl
Tatiana [17]

Answer:

Those who possess required skills.

Explanation:

Considering the firm's size and having a few resources, the firm should select employees who possess the following 3 important skills:

1. Honesty, and a Strong Work Ethics; this employees can be trusted with tasks, and may possess high moral standards beneficial for success.

2. Intelligence

they should be teachable and this may be proven by the use of an IQ or personality test.

Their professionalism is well reflected by their ability to introduce new technologies in web design.

3. Leadership Skills

This employees are vital for the long-term growth of the firm.

They could effectively lead teams, train new team members and boost the firm's workplace productivity.

5 0
3 years ago
Gundy Company expects to produce 1,304,400 units of Product XX in 2020. Monthly production is expected to range from 87,000 to 1
Inessa05 [86]

Answer:

                             Gundy Company

             Manufacturing Flexible Budget Report

             For the Month Ended March 31, 2020

                                   Budget                Actual

Units produced         107,000               107,000  

Variable Costs:

Direct Materials        $428,000            $455,000      $27,000 U

                                 ($4 * 107,000)

Direct labor               $749,000             $746,000      $3,000 F

                                  ($7 * 107,000)

Overhead                   $963,000            $971,000      $8,000 U

                                  ($9 ×* 107,000)

Total variable costs  $2,140,000          $2,172,000  $32,000 U

Fixed Costs:

Depreciation                $434,800           $434,800     $0

Supervision                  $108,700            $108,700      $0

Total fixed costs          $543,500          $543,500     $0

Total costs                   $2,683,500         $2,715,500    $32,000 U

Workings:

Depreciation = (1,304,400 * $4) / 12 = $5,217,600 / 12 = $434,800

Supervision = (1,304,400 * $1) / 12 = $1,304,400 / 12  = $108,700

3 0
2 years ago
Accounting subject , please help me​
suter [353]

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6 0
2 years ago
Mauve starts a business that specializes in procuring and selling antique items. Her business caters specifically to individuals
stepan [7]

Answer:

The opportunity of exploiting market niches is highlighted in the given scenario.

Explanation:

A market niche is "a small but profitable segment of a market suitable for focused attention by a marketer. Market niches do not exist by themselves, but are created by identifying needs or wants that are not being addressed by competitors, and by offering products that satisfy them. See also market segmentation. "

Reference: WebFinance Inc. “What Is Market Niche? Definition and Meaning.” BusinessDictionary.com, 2019

6 0
3 years ago
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