Answer:
The reported book value of the franchise will be $200000
Explanation:
An intangible asset is an asset that lacks a physical substance. The value of an intangible asset is amortized just as the value of a tangible/physical asset is depreciated.
The straight line amortization charges a constant amortization expense through out the expected useful life of the intangible asset.
The formula to calculate the straight line amortization per year is,
Amortization expense per year = Cost / Expected Useful life
Amortization expense per year = 300000 / 6 = $50000 per year
The book value of an asset is the value after deducting the accumulated depreciation/amortization from the cost.
Book value = cost - accumulated depreciation or amortization
Book value = 300000 - (50000 * 2) = $200000
Answer:
The answer is "Complete but not absolutely right".
Explanation:
In production technique segments, it should first calculate the cost of fuel per mile and afterward measure the depreciation.
Calculating Depreciation:
Using the FAFSA form, you can apply for federal student loans and the federal work-study program. The IRS Data Retrieval Tool allows you to view and transfer your tax information directly into your FAFSA form. Federal Student Loan is the way to pay for your higher education that will require you to pay back the money you receive.
They won 21 out of their 30 basketball games.
Answer:
$92,400
Explanation:
Coolwear incorporation has a balance in its prepaid insurance account of $48,400
In 2018, $86,000 was paid for insurance
At the end of 2018, the balance was $42,000 after adjusting entries were recorded
Therefore the insurance expense for 2018 can be calculated as follows
= $48,400 + $86,000-$42,000
= $134,400-$42,000
= $92,400
Hence the insurance expense for 2018 is $92,400
