Answer:
$46,350
Explanation:
The Patent is Acquired at the Fair Value at the Acquisition date. They are recognized in consolidated financial statement even when not recorded by the subsidiary for consolidation purposes.
Thus, the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021 is $46,350.
High employment is a good way to keep our economy healthy, along with price stability. An example of price stability would be the following:
Someone would steal an item at a store. They keep coming back to steal more and more until the store begins to notice. This makes paying workers more difficult, as there isn't much profit to be made with the limited stock. This makes workers quit, causing less cash flow into the economy,.
When we make bad financial decisions our economy is effected in the following ways:
Someone could take a loan, become unable to pay it back, and get into a financial debt. It becomes worse and uncontrollable the longer it goes unpaid. Eventually this debt may lead to bankruptcy.
Answer and Explanation:
The adjusting entry is as follows:
Supplies expense Dr $2,200
To Supplies $2,200
(being the supplies expense is recorded)
Here the supplies expense is debited as it increased the expenses and credited the supplies as it decreased the assets
The computation is
= Opening supplies + purchased - closing supplies
= $1,500 + $2,900 - $2,200
= $2,200
Answer:
Under the installment sales method, the total contract price is $85,000
gain on the sale is $58,800 ( 85,000 + 15,000 - 40,000 - 1,200)
and the amount of gain reported in 2018 is $3,459.
If you have a total consumption budget for each month, then at least consumption budget of between three to six months should be put in your emergency fund account to cater for financial dilemma which may occur at any time due to loss of job or other factors. After this, you can now start saving toward long term goals by saving at least 10% of your income.
