1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Eduardwww [97]
3 years ago
15

On January 1, 2015, Weaver Corporation purchased a patent for $237,000. The remaining legal life is 20 years, but the company es

timates the patent will be useful for only six more years. In January 2017, the company incurred legal fees of $57,000 in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of useful life. Weaver Corporation's year-end is December 31.
1. Record the purchase in 2015; amortization in 2015; amortization in 2016; legal fees in 2017; and amortization in 2017.

2. What is the balance in the Patent account at the end of 2017?

Business
1 answer:
Pepsi [2]3 years ago
7 0

Answer

The answer and procedures of the exercise are attached in an excel screenshot.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

You might be interested in
.....BOREDOM IF YOU ANSWER YOU WILL REGRET BUT ITS YOUR FUNRE
Andrei [34K]

i'm gonna answer... i want to see where this goes

4 0
3 years ago
Read 2 more answers
Bjorn felt that the focus groups did not give him enough quantitative information to make a decision, so he directed his manager
klio [65]

Answer:A

Explanation:

Veracity : This simply means conformity with truth or facts. Since Bjorn felt that the focus group did not give him fact, he would hereby, adopt veracity to achieve his secondary research.

4 0
3 years ago
Firms in the patented pharmaceutical industry earned an average return on net worth of 22 percent in 2006, compared with an aver
IrinaVladis [17]

Answer and Explanation:

The following theories of profit best explain the profits of pharma companies:

1. Risk bearing - The theory says the higher the risk, the higher the rewards. The pharma companies take huge risks in inventing a new drug, having trials and the getting FDA approvals.

2. Monopoly - If a new drug is approved, the pharma company gets a patent over it, which means that it will have an effective monopoly on that segment of the market.

3. Innovation - it states that innovation is what keeps a company ahead. And pharma industry is built on innovation. Pharma companies have to continuously find new drugs because once patents run out on existing drugs, there are no profits to be made.

3 0
3 years ago
Jennifer received $6,000 interest; $4,800 was tax-exempt and $1,200 was taxable. In earning this income, she had $500 of expense
Marat540 [252]

Answer:

The amount of interest expenses that Jennifer can deduct from her tax return for tax year 2019 is $100.

Explanation:

The amount of interest expenses that Jennifer can deduct from her tax return for tax year 2019 can be calculated using the following formula:

Interest expenses deductible = (Taxable interest / Total interest) * Interest expenses .................... (1)

Where;

Taxable interest = $1,200

Total interest = $6,000

Interest expenses = $500

Substituting the values into equation (1), we have:

Interest expenses deductible = ($1,200 / $6,000) * $500

Interest expenses deductible = 0.20 * $500

Interest expenses deductible =$100

Therefore, the amount of interest expenses that Jennifer can deduct from her tax return for tax year 2019 is $100.

3 0
2 years ago
The two general kinds of trade barriers are _____.
lana66690 [7]
I think the answer is A
3 0
3 years ago
Other questions:
  • ator Corporation manufactures several types of accessories. For the year, the gloves and mittens line had sales of $494,000, var
    8·2 answers
  • Consider the following information for three stocks, Stock A, Stock B, and Stock C. The returns on each of the three stocks are
    8·1 answer
  • Troy, who is 18, offers to sell Jenna, who is also 18, his car for $5,000. Jenna accepts Troy's offer, but only agrees to pay $4
    10·1 answer
  • Clarissa strives to keep the department running smoothly, delivering services to customers on time and under budget. A _________
    14·1 answer
  • In the short run, prices may rise faster than costs. This chapter discusses why this might happen. Suppose that labor and manage
    11·1 answer
  • Telefonica Brasil Customer-Retention Program. Telefonica Brasil is one of the largest telecommunications companies in Brazil. It
    15·1 answer
  • You were hired last year as the manager of accounts receivable for a medi-um sized company. In the following year, while sales o
    6·1 answer
  • Will Mark as Brainliest!!! +40 extra points Spending money on medical expenses is part of this expenditures approach for calcula
    12·1 answer
  • New steel products has total assets of $820,470, a total asset turnover rate of 1. 39, a debt-equity ratio of 2. 8, and a return
    7·1 answer
  • Which transaction caused John to overdraw his account?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!