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ANEK [815]
3 years ago
7

Janes Company provided the following information on intangible assets: A patent was purchased from the Lou Company for $1,100,00

0 on January 1, 2019. Janes estimated the remaining useful life of the patent to be 10 years. The patent was carried on Lou’s accounting records at a net book value of $430,000 when Lou sold it to Janes. During 2021, a franchise was purchased from the Rink Company for $580,000. The contractual life of the franchise is 10 years and Janes records a full year of amortization in the year of purchase. Janes incurred research and development costs in 2021 as follows:Materials and supplies $ 148,000 Personnel 188,000 Indirect costs 68,000 Total $ 404,000 Effective January 1, 2018, based on new events that have occurred, Janes estimates that the remaining life of the patent purchased from Lou is only five more years.Required:1. Prepare the entries necessary for years 2016 through 2018 to reflect the above information.2. Prepare a schedule showing the intangible asset section of Janes’s December 31, 2018, balance sheet.

Business
1 answer:
juin [17]3 years ago
4 0

Answer:

Please find attached Balance sheet.

Explanation:

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OPEC announces it will increase oil production by 20 percent. What is the effect of this action on the price of oil now? will ,
valina [46]

Answer:

An increase in the production leads to decline in the price. Producers are likely to supply more at the lower price or the existing price, considering the increase in production. If there is a 20 percent increase in the production, then it tends to increase the supply. An increase in supply will have a negative impact on price.

The effect of the increase in production on price is shown in the above figure. A twenty percent increase in the production causes an increase in the supply. Excessive supply causes a reduction in the price. Hence, when the supply increases from P1 to Q2, the price decreases to P2 from P1.

7 0
3 years ago
Lumination Corporation operates one central plant that has two divisions, the Flashlight Division and the Night Light Division.
babunello [35]

Answer:

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5 0
2 years ago
In the late nineteenth century, what helped narrow the gradations of freedom amongst white Americans? a. Indentured servitude ha
ElenaW [278]

In the late nineteenth century, Judith Sergeant Murray wrote about women’s intellect being equal- this helped narrow the gradations of freedom amongst white Americans.

Option: B

Explanation:

In the late nineteenth century there was a conflict in between white Americans about the freedom. Their fight against each other graded by the help of writer and other professionals who wrote about their strong points. Judith Sergeant Murray who was an American writer and advocate wrote about women's right.

Gender discrimination, women's right, feminism was the core area of writing in Judith Sergeant Murray's work. He compared women's ability with man's, their imagination, decision making capacity, judgemental motives etc.

5 0
3 years ago
Maria, age 28, wants to pay no more than $300 a year in life insurance. What is the face value of the largest 20-year term polic
VMariaS [17]

Answer:

Explanation:

Net Cost of Life Insurance Premium : Life insurance policy entails Premium to be paid by the insured at a monthly / quarterly interval. insured often gets dividend from the insurance company and in that case, the net cost of premium will be low

The 20 years premium can be calculated with Annual Premium which is not given in the question, therefore i will solve for all the option but please pick the answer that the Annual premium is with you

a)   20 years premium = Annual Premium x Number of years

                                     = 11700 x 20

                                    = 234,000

b)   20 years premium = Annual Premium x Number of years

                                     = 7900 x 20

                                    = 158,000

c)  20 years premium = Annual Premium x Number of years

                                     = 550 x 20

                                    = 11,000

d)  20 years premium = Annual Premium x Number of years

                                     = 28350 x 20

                                    = 567,000

7 0
3 years ago
3. The most cost-effective way to produce gasoline is to never interrupt the process because the constant, uninterrupted product
trapecia [35]

Answer:

Continuous

Explanation:

Continuous production process is the procedure where the manufacture of the products need the sequential performance of different processes on multiple machines receives the material for manufacturing by the closed channel.

This process is mostly used in the business of chemical and paper.

So, in this case, the most effective way to produce the gasoline is the kind of production which is referred as the continuous production process.

3 0
3 years ago
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