Answer:
Trade secret
Explanation:
A trade secret refers to things like a process, formula or design that a company owns that have an economic value and provide a competitive advantage and that are known only by certain people inside the organization. According to this, the answer is that in the business world, a trade secret is recognized as a legally acceptable way for any business to keep knowledge of its particular methods of production from being known by competing firms because trade secrets refer to intellectual property that allows the organization to have a competitive advantage and they are maintained as a secret to avoid competing firms to copy its methods.
Answer:
$132,000
Explanation:
The computation of the warranty expense is shown below:
Warranty expense = Units sold × repaired cost × estimated percentage
= 22,000 units × $150 × 4%
= $132,000
We simply multiplied the unit sold with the repaired cost and the estimated percentage so that the amount of warranty expense could come
All other things that are mentioned in the question is not relevant. Hence, ignored it
Answer:
$210,000
Explanation:
Calculation to determine the pension expense for the year
Service cost $197,000
Interest cost $39,000
Less Expected return on plan assets ($26,000) ($260,000*10%)
Pension expense $210,000
Therefore the pension expense for the year will be $210,000
The correct answer would be option A, computer,desk,legal/incorporation fees,roof.
She also paid $6000 in legal/incorporation fees and spent $12000 for a new roof for the office building she owns. Computer, desk, legal/incorporation fees, roof, purchases she can expense in 2018 without limitations.
Explanation:
Wendy is a financial planner who began his business in 2018. She purchased computers, desks, paid legal/incorporation fees, and also spent money for a new roof for the office building.
All these purchases are already paid by him in the running year. So he does not have to worry about their limitation at least in 2018. These are mostly one time purchases that would need only maintenance in years, or he might have to pay only for the renewal of the legal/incorporation. Otherwise there would be no limitation on him in 2018 at least.
Learn more about Purchase expense without limitation at:
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Answer:
Option D, E and F. See below for information.
Explanation:
Costs are capitalized when they form a principal part of the asset. These costs may include any costs that are needed to make the asset operational and any costs that are incurred to bring the asset to operating premises.
As such the $15,000 freight bill that brings the asset in premises, the invoice price of $500,000 which comprises the cost of the capital asset and the one time cost of $8,000 to tear down the wall and install the asset are all capital costs and are to be capitalized in the final cost of the asset to be recorded.
All other are annual expenses are not to be capitalized (Option a, b and c)
Hope that helps.
