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saul85 [17]
3 years ago
5

Van Frank Telecommunications has a patent on a cellular transmission process. The company has amortized the $18.90 million cost

of the patent on a straight-line basis since it was acquired at the beginning of 2017. Due to rapid technological advances in the industry, management decided that the patent would benefit the company over a total of six years rather than the nine-year life being used to amortize its cost. The decision was made at the end of 2021.
Required:
Prepare the appropriate adjusting entry for patent amortization in 2013 to reflect the revised estimate.
Business
1 answer:
Savatey [412]3 years ago
7 0

Answer:

The appropiate Journal Entry would be the following:

Amortization Expense Dr. $5.25  million

                                     Patent Cr. $5.25 million

Explanation:

According to the given data, we have the following:

Original Cost of patent = $18.90 million

Hence, Annual Amortization (Old) = 18.90/9 = $2.1 million

Amortization till Date (2017 - 2021) = 2.1*4 = $8.4 million

Hence, Unamortized Value = 18.90 - 8.4 =$ 10.5 million

Also, Remaining Life = 6 - 4 = 2 Years

Therefore, The New Amortization = Unamortized Value/Remaining Life = 10.5/2 = $5.25 million

The appropiate Journal Entry would be the following:

Amortization Expense Dr. $5.25  million

                                     Patent Cr. $5.25 million

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Gerald rowe spends a weekend helping his neighbor john fritz build a new garage. two weeks later, after the garage is complete,
Ivanshal [37]

Answer:

cannot sue John for the extra $250 asJohn made the promise to him based on past consideration.

Explanation:

When Gerald was helping John build the garage, there was no agreement between them on payment for services. After the two weeks John made the promise to pay Gerald.

This is not a binding promise as John is paying Gerald at his own discretion as a past consideration, since no contract was agreed between them.

7 0
3 years ago
In the workplace, racial discrimination is a very serious issue. Consider a company in which 20% of the employees are African-Am
Tema [17]

Answer:

a) It is expected that 8 African-Americans get promotions.

b) There is a 8.6% probability that 5 African-Americans get promotions.

c) There is a 16.2% probability that at five or less African-Americans get promotions.

d) The company may be accused of racial discrimination because the ammount of promotions given to African-Americans is much less than expected if there were no discrimination. The expected value, if there is no discrimination, of having more than 5 promotions for African American employees is 84%.

Explanation:

The question is incomplete.

Complete question:

<em>In the workplace, racial discrimination is a very serious issue. Consider a company in which 20% of the employees are African-American. At the end of the year, promotions are awarded to a group of employees. Out of the 40 promotions awarded, five are African-American. Given that the awarding follows the binomial distribution, B(40,.2).</em>

<em />

<em>a) How many African-Americans would you expect to get promotions? </em>

<em> b) What is the probability that five African-Americans receive promotions? </em>

<em> c) What is the probability that five or fewer African-Americans receive promotions? </em>

<em> d) Do you think the company is suspect of racial discrimination? Explain your thinking.</em>

<em />

a) As this situation can be modeled by a binomial distribution B(40,0.2), the expected number of African-Americans that get promotions can be calculated as the expected value of the binomial distribution:

X\sim B(40,0.2)\\\\E(X)=np=40*0.2=8

It is expected that 8 African-Americans get promotions.

b) Accordingly to the binomial distribution, we have:

P(X=5)=\frac{40!}{5!35!}*(0.2)^5*(0.8)^{35}=658008*0.00032*0.0004= 0.086

There is a 8.6% probability that 5 African-Americans get promotions.

c) We have to calculate the probabilities for X=0,1,2,3,4 and 5.

P(X\leq5)=P(X=0)+P(X=1)+P(X=2)+P(X=3)+P(X=4)+P(X=5)\\\\\\P(X=0)=\frac{40!}{0!40!}*0.2^0*0.8^{40}=1*1*0.00013=0\\\\P(X=1)=\frac{40!}{1!39!}*0.2^1*0.8^{39}=40*0.2*0.00017=0.001\\\\P(X=2)=\frac{40!}{2!38!}*0.2^2*0.8^{38}=780*0.04*0.00021=0.007\\\\P(X=3)=\frac{40!}{3!37!}*0.2^3*0.8^{37}=9880*0.008*0.00026=0.021\\\\P(X=4)=\frac{40!}{4!36!}*0.2^4*0.8^{36}=91390*0.0016*0.00032=0.047\\\\P(X=5)=\frac{40!}{5!35!}*0.2^5*0.8^{35}=658008*0.00032*0.00041=0.086

P(X\leq5)=P(X=0)+P(X=1)+P(X=2)+P(X=3)+P(X=4)+P(X=5)\\\\P(X\leq5)=0+0.001+0.007+0.021+0.047+0.086=0.162

There is a 16.2% probability that at five or less African-Americans get promotions.

d) The company may be accused of racial discrimination because the ammount of promotions given to African-Americans is much less than expected if there were no discrimination. The expected value, if there is no discrimination, of having more than 5 promotions for African American employees is 84%.

3 0
4 years ago
A Product Manager has been given responsibility for overseeing the development of a new software application that will be deploy
Free_Kalibri [48]

Incomplete question. The missing options read;

a. Design the application’s security features after the application’s initial build is complete.  

b. Schedule development of security features after the application’s initial release.  

c. Utilize a DevSecOps approach to incorporate security into the development process from the beginning.  

d. Contract with an external vendor to develop a security solution separately from the main application.

Answer:

<u>a. Design the application’s security features after the application’s initial build is complete.</u>

Explanation:

Remember, our main concern here is to determine <em>the most time-saving and cost-effective way for the Product Manager to address the new application's security considerations.</em>

Hence, if the Product Manager decides to schedule the development of security features after the application’s initial release, this would not be the most time-saving approach. Also, utilizing a DevSecOps approach to incorporate security into the development process from the beginning and contracting with an external vendor to develop a security solution separately from the main application is not the best cost-saving approach.

However, designing the application’s security features after the application’s initial build is complete would be the most time-saving and cost-effective way for the Product Manager to address the new application's security considerations.

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3 years ago
A(n) ________ is an internet business model that sells products directly to consumers or to individual businesses.
telo118 [61]

Answer:

An e-tailer

found this site to help me with my problems

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2 years ago
Employees who are part of a motorcycle riding club that meets outside of the organization is an example of which type of group?.
pentagon [3]

An example of a virtual team is a group of employees who participate in a motorcycle riding group that meets outside of the company.

A virtual team, sometimes referred to as a remote team, is made up of individuals who communicate and work via technology like audio and video conferencing from geographically separate locations.

<h3>What is a Virtual Team?</h3>

A virtual team, sometimes referred to as a geographically dispersed team or a remote team, is a collection of individuals who communicate with one another online. Members of a virtual team typically reside in several geographic locations.

  • Remotely working groups of coworkers are known as virtual teams. These coworkers communicate via tools like email, Slack, and Zoom while working remotely rather than in an office. These coworkers work together online and hardly ever interact in person.
  • The same characteristics consistently appear in studies and lists: empathy, justice, listening and communication skills, sincerity, and decision-making. Teams are motivated and inspired by leaders.

To learn more about Virtual Team refers to:

brainly.com/question/25576685

#SPJ4

4 0
1 year ago
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