Answer:
The appropriate adjusting entry for patent amortization in 2021 to reflect the revised estimate would be as follows:
Amortization Expense Dr. 3 million
Patent Cr. 3 million
Explanation:
In order to Prepare the appropriate adjusting entry for patent amortization in 2021 to reflect the revised estimate we would have to make the following calculations:
Calculation after the Change:
Original Cost =$10.8 million
Annual Amortization (Old) =$10.8 million/9 = $1.2 million
Amortization till Date (2017 - 2021) = 1.2*4 = 4.8 million
Unamortized Value = 10.8 - 4.8 = 6 million
Remaining Life = 6 - 4 = 2 Years
New Amortization = Unamortized Value/Remaining Life = 6/2 = 3 million
Therefore, the appropriate adjusting entry for patent amortization in 2021 to reflect the revised estimate would be as follows:
Amortization Expense Dr. 3 million
Patent Cr. 3 million
Anticipatory repudiation/anticipatory breach
This means that company Y <em>anticipates </em>that company X does not intend to to honor the contract based on what they were told. Even if the breach hasn't occurred yet, company Y can begin the lawsuit/recovery process because of the anticipation of loss.
Answer: The correct option is A. when internal control over a particular activity is deemed essential.
Explanation: Outsourcing is the business practice in which there is an agreement between two companies, where company A hires company B to help perform some tasks, oversee operations, or provide services. These activities could range from those that have been previously carried out by company A to a new planned activity, and it could also involve the transfer of employees and assets from company A to company B.
The benefits if outsourcing include:
- helps to focus on core tasks.
- helps to lower costs as more employees need not be hired.
- helps to grant access to a larger talent pool and expertise.
However, one quality of outsourcing is that the hired company gets to exercise a level of control or autonomy, meaning that the hired company was actually hired to oversee a particular activity.
Therefore if an activity now requires the total control of the hiring company, then there would be no need for hiring an outsourcing firm. In this situation therefore, it would be a waste of resources to hire an outsourcing firm, and in summary it would not be beneficial.
Answer:
The correct answer is b. after taxes minus preferred dividends.
Explanation:
Net profit: Add all the revenues of the firm and deduct all the expenses of the firm. If the amount come in positive, the firm earns profit else suffered loss.
In mathematically,
Net profit = Sales revenue - all expenses
The earning which is available to shareholders is net profit after paying preference dividend to preference shareholders.
As first we have to pay the dividend to preference shareholders then we distribute the income to equity shareholders.
In mathematically,
EBIT - taxes - Preferred dividend
Hence, the correct option is b. After taxes minus preferred dividends.
Answer: $0
Explanation:
We should note that based on the information given, Robert and Becca file jointly, therefore, their their capital gains tax be in the current year will be $0.
Assuming they filed separately, their capital gains tax be in the current year will be:
= 15% × ($28,000 - $17,000)
= 0.15 × $11000
= $1650.
But regarding the question, the answer is $0.