Answer:
the payback period is 14 months
Explanation:
The computation of the payback period is shown below:
Profit is
= $2,000,000 - $1,669,426
= $330,574
Now payback period is
= 1 + $330,574 ÷ $1,669,426
= 1 +0.198 years
= 1.198 years
= 14.37 months
= 14 months
Hence, the payback period is 14 months
The item should be
reported as a prior period adjustment: On the 2014 statement of retained
earnings.
To add, depreciation<span> <span>is the process by which a company allocates an
asset's cost over the duration of its useful life. Every time a company
prepares its economic statements, it records a </span>depreciation expense<span> to
allocate a portion of the cost of the buildings, machines or equipment it has
purchased to the current fiscal year</span>.</span>
Answer:
$30,000
Explanation:
The computation of the royalty revenue reported is shown below:
= Patent-related sales for the year × given percentage
= $300,000 × 10%
= $30,000
The revenue is recognized when it is earned or realized so only $30,000 is to be reported as the royalty revenue
The remaining amount i.e $20,000 would be treated as an unearned royalty revenue
Answer:
danger is used for the most severe hazards
Explanation:
Answer:
has an unlimited territory.
Explanation:
In the given scenario Lucy is running an online business with the support of Notable Moments a franchise.
Businesses can be brick and mortar or physical buildings that requires clients to come to a particular location.
Secondly they can be via online channels like website in the case of Lucy where the clients she can reach are not in one location.
Because of the wide spread of the internet Lucy's territory is unlimited. A person on the other side of the world can patronise her business.
