Answer:
Lump-sum salary increase.
Explanation:
A lump-sum salary increase is an amount paid instead of increase in salary. It is not added to the fixed base salary, it is instead given in the form of a single cash payment, as it is the case with Cindy here. This is why it is also known as lump sum bonus, because it is given as a single payment, as it was in Cindy’s case, all given at the beginning of the year.
Corporate dividends are always paid in cash is not true among the given statements.
<u>Explanation:</u>
Corporates dividends are not always paid in cash sometimes they are paid in merchandise or as other assets. Dividends are earnings which corporations distribute to its stockholders and they are charge against the profit which the corporation generated over the specified period.
They are charged on the stock which is owned by all the shareholders/stockholders or other investors. The period which dividends are paid differs from one corporation to another. Some companies pay annually while others opt for quarterly payments or pay after 3 months.
Answer:
Following are the solution the given question:
Explanation:
Answer: A. Analyze the situation.
Explanation: Took the test
Answer: $738,000
Explanation:
The amount they should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2020 goes thus:
The amortization for 2018 and 2019 will be:
= $1,230,000 × 2/10
= $246,000
Then, the carrying value of patent in the beginning of 2020 will be:
= $1,230,000 - $246,000
= $984,000
It should be noted that the remaining life will be:
= 6 years - 2 years
= 4 years
2020 Amortization will then be:
= $984000/4 =
$246000
Accumulated Amortization will be:
= $246,000 + $246,000
= $492,000
Therefore, the amount reported in patents will be as at December 31, 2020 will be:
= $1,230,000 - $492,000
= $738,000
