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Artyom0805 [142]
3 years ago
15

During 2016, Frank Company incurred $200,000 in legal fees in defending a patent with a carrying value of $3,500,000 against an

infringement. Farver's lawyers were successful with the defense of the patent. The legal fees should be
Business
1 answer:
MatroZZZ [7]3 years ago
6 0

Answer: $320,000

Explanation:

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A group of friends decided to divide the $800 cost of a trip equally among themselves. when two of the friends decided not to go
s344n2d4d5 [400]
Total cost for the trip = $800.

Let x  =  original number of friends.
Therefore the equally shared cost of the trip for each friend is $800/x.

After 2 friends drop out, the cost for each friend increases to $800/(x-2).
The increase in cost for each remaining friend is $20, therefore
\frac{800}{x-2} - \frac{800}{x} =20
Divide through by 20.
\frac{40}{x-2} - \frac{40}{x} =1\\ \\\frac{40x-40(x-2)}{x(x-2)} =1 \\ \\ \frac{80}{x(x-2)} =1
Cross multiply.
x(x - 2) = 80
x² - 2x - 80 = 0
(x + 8)(x - 10) = 0
x = -8 or 10
Reject x = -8 because we cannot have a negative number for friends.
x = 10

Answer: There were 10 friends in the original group.
6 0
3 years ago
Melissa is a minor who agrees to purchase a car from Umberto for $10,000 one month after she turns eighteen years of age. On tur
BartSMP [9]

Answer:

enforceable because it has been expressly ratified by Melissa.

Explanation:

A contract is defined as a legally binding agreement between parties, and is enforceable on both parties involved. There is usually an offer and acceptance to make the contract valid and enforceable. It can involve exchange of goods and services, or future promise to exchange goods and services.

In this instance bMelinda agreed with Umberto that she will buy a car from him when she turns 18 years. The condition to the contract was Melinda turning 18 years.

She has ratified this condition so the contract is now enforceable.

7 0
3 years ago
Marketing involves which of the following : A. Advertising B. Transporting products C. Taking surveys D. All of the above
IgorLugansk [536]
The following day I can send it off a couple advertising
4 0
3 years ago
A ______ resume is customized to highlight the specific qualifications and experience needed for a particular job.
KATRIN_1 [288]

Answer:

A. targeted

Explanation:

A resume (curriculum vitae) can be defined as a short text-based document that a job applicant use to briefly outline his or her qualifications, abillities and accomplishments, haven completed and obtained an academic certificate.

Generally, all job applicants are required to have a resume (curriculum vitae). This brief and concise document is always requested by human resource managers during the job application process.

Furthermore, the primary way to make a resume persuasive (to convince or inform an action in the minds of the readers - potential employers) is by customizing it to fit each company and position.

This ultimately implies that, job applicants are expected to tailor their resume to fit or match the position that is advertised by a company's human resources department.

Hence, a targeted resume (curriculum vitae) is customized (tailored) by a job applicant to highlight the specific qualifications and experience needed for a particular job.

3 0
2 years ago
Sarasota Company has a balance of $2,200 in Allowance for Doubtful Accounts before adjustment. The estimated uncollectibles unde
andrew-mc [135]

Answer:

Debit : Allowance for doubtful debts = $2900

Credit : Accounts receivables = $2900

Explanation:

An account for allowance for doubtful debts is a contra account created, predicting that certain debtors will not be able to pay for the goods and services they purchased. This may be based on historical experiences. Doubtful debts aren’t officially uncollectible, it is simply an estimation made, but bad debts are, where you have officially written off a certain accounts receivable as uncollectible.

An allowance for doubtful debts is recorded in the balance sheet, directly under accounts receivables. Bad debts are recorded as an expense in the income statement. When there is an allowance for doubtful debts, the bad debts account is debited and the allowance for doubtful debts account is credited.

According to the question, the balance was $2,200 (Cr) in the allowance for doubtful debts account. The initial expected amount for allowance for doubtful debts was $5100 (Cr). This means that the difference was the amount that was declared as uncollectible and officially written off i.e. bad debts. Thus $2900 ($5100 -$2200) would have been confirmed as bad debts.

The entry to record the above transaction is:

Debit : Allowance for doubtful debts = $2900

Credit : Accounts receivables = $2900

5 0
3 years ago
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