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Eddi Din [679]
3 years ago
12

On January 1, 2019, Charlie Corporation acquires all of the net assets of Rocky Corporation for $2,000,000. The following intang

ible assets are included in the purchase agreement: Assets Acquisition Cost Goodwill and going concern value $105,000 Licenses $ 45,000 Patents $ 60,000 Covenant not to compete for five years $120,000 What is the total amount of amortization allowed in 2019?.
Business
2 answers:
Amiraneli [1.4K]3 years ago
7 0

Answer:

Amortization allowed in 2019 = ($2,000,000 - $105,000 - $45,000 - $60,000 - $120,000) / (5)

                                                = $334,000

Explanation:

In accounting, amortization refers to expensing the acquisition cost minus the residual value of intangible assets in a systematic manner over their estimated "useful economic lives" so as to reflect their consumption, expiry, and obsolescence, or other decline in value as a result of use or the passage of time.

https://en.wikipedia.org/wiki/Amortization_(business)

GaryK [48]3 years ago
6 0

Answer:I would love to help but I need help with mutiplcation... LOL i am soooo dumb

  HELP ME Explanation:

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Explanation:

b. thinking at the margin

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3 0
3 years ago
a local partnership was in the process of liquidating and reported the following capital account balances: justice, capital (40%
bogdanovich [222]

Based on the capital account balances and the amount in the cash account, the amount that Zobart will receive is $15,467.

<h3>What will Zobart receive?</h3>

The amount that Zobart will receive can be found by the formula:

= (Deficit x percentage in partnership/ 75%) + Capital account balance

Solving for the amount going to Zobart gives:

= (14,000 x 35%/75%) + 22,000

= $15,467

In conclusion, the amount to Zobart is $15,467.

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8 0
2 years ago
You purchased 300 shares of common stock on margin for $60 per share. The initial margin is 60% and the stock pays no dividend.
MrMuchimi

Answer:

- 41.67%

Explanation:

For computing the rate of return first we have to compute the initial investment which is shown below:

= Number of shares × per share ×  initial margin percentage

= 300 shares × $60 per share × 60%

= $10,800

Now Loss on sale of common stock is

= (Selling price - purchase price) × number of shares  purchased

= ($45 - $60 ) × 300  shares

= - $4,500

So the rate of return will be:

= Loss ÷ Initial Investment

= - $4,500 ÷  $10,800

= - 41.67%

7 0
3 years ago
Assume Karen is 12 years old and her only income is $2,500 of interest income from a bank account with money her parents have gi
coldgirl [10]

Answer:

Since Karen is a minor, she can receive up to $950 in unearned income per year without paying taxes or having to file a tax return.

Since she receives a larger amount $2,500 - $950 = $1,550, she must pay taxes for the extra amount depending on which type of account her parents opened for her.

  1. Karen's parents probably opened a 529 Education Savings Plan, and if that is the case, she doesn't need to pay any federal taxes.
  2. If Karen's parents opened her a custodial account, then she will have to pay taxes for the $1,550 above the $950 threshold. Minors are responsible for filing their own taxes or their parents can file taxes for them. If either Karen or her parents pay taxes, they should pay = $1,550 x 10% = $155

7 0
4 years ago
How is the Scheduling Assistant useful in creating a shared meeting request? Check all that apply.
Lady_Fox [76]

Answer: a, c and d

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7 0
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