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Free_Kalibri [48]
3 years ago
15

On January 1, 2017, Sheridan Company had a balance of $417,000 of goodwill on its balance sheet that resulted from the purchase

of a small business in a prior year. The goodwill has an indefinite life. During 2017, the company had the following additional transactions. Jan 2 : Purchased a patent (6-year life) $301,350. July 1 : Acquired a 10-year franchise; expiration date July 1, 2027, $633,600. Sep 1 : Research and development costs $189,000. Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were for cash.
Business
1 answer:
Thepotemich [5.8K]3 years ago
8 0

Answer:

patent      301,350 debit

       cash                 301,350 credit

franchise 633,600 debit

        cash               633,600 credit

development expense   189,000 debit

         cash                                    189,000 credit

year-end adjustment:

amortization expense   50,225 debit

         patent                                  50,225 credit

amortization expense   31,680‬ debit

         patent                                  31,680‬ credit

Explanation:

The patent and franchise will be activate as there is a certain possibility to produce positive cashflow in the future.

They will be adjusted at year-end for amortization:

301,350 / 6 = 50,225 amortization on patent

633,600 / 10 = 63,360 amortization on franchise

As it was concede on July 1st then, we will do half-year

63,360 / 2 = 31,680‬

The development cost will be treated as expense as there is no precise information that can determined the development cost which yield a positive outcome.

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Soda and pizza are complements because they are often enjoyed together. When the price of soda rises, what happens to the supply
almond37 [142]

Explanation:

In the case of the complements goods, if the price of the soda rises, the demand would be decreased and the supply would rises. Since the soda and pizza are complementary goods so the impact of one good would be the same for another good also

Moreover, we also know that the price and the demand has an inverse relationship but the price and the supply has a direct relationship

6 0
3 years ago
During winter, red foxes hunt small rodents by jumping into thick snow cover. researchers report that a hunting trip lasts on av
Hatshy [7]

In this report, there are three variables being mentioned. These are:

1st variable = 19 minutes

2nd variable = 7 jumps

3rd variable = 79%

 

In this problem, I believe what we are asked to do is to identify the type of variable the 2nd variable is. We are given that the 2nd variable is “7 jumps”.  This means that the 2nd variable is quantitative because it refers to or relating to a measurement of something rather than the quality. We also know that jumps can only take whole numbers, not decimal. Therefore it is also discrete. Hence, the 2nd variable is:

quantitative and discrete

6 0
3 years ago
What protects consumers against harm from products on the market? Franchises Profit Motives Private property rights Government R
Helen [10]
That would be government regulations because the government always ensures consumers safety.
5 0
3 years ago
A manufacturing operation consists of 10 operations. However, five machining operations must be completed before any of the rema
Anit [1.1K]

Answer:

The answer is: 14,400 different production sequences are possible

Explanation:

For this calculation I will assume that the first 5 operations can be made in any order, as well as the last 5.

For the first set of machining operations, since they can go in any order, you choose one operation and then you have 4 operations left, then you choose another operation and you have 3 operations left, then you choose another operation and you have 2 operations left, you choose another option and you have only 1 operation left.  This process can be expressed by the following equation: 5 x 4 x 3 x 2 x 1 = 120 possible different combinations. Mathematically it can also be expressed as 5! = 120

The same for the last 5 assembly operations, you have 5 x 4 x 3 x 2 x 1 = 120 possible different combinations.

So to get the total possible combinations of all the process, we just multiply 120 x 120 = 14,000 or 5! x 5! = 14,400

8 0
2 years ago
Farm workers in Oaks Farmville face a 1/85 probability of death at work and each of them receives a yearly wage of $159,106. Far
Lostsunrise [7]

Answer:

$154,182.02

Explanation:

Probability of Farm workers in ( O.F ) facing death at work = 1/85 = 0.012

Probability of Farm workers in ( V.F ) facing death at work = 1/127 = 0.008

Value of a statistical life = $1,262,558

<u>Determine how much  the workers in less risky job should get paid </u>

The less risky job is working in Valley farm(V.F ) with a death probability of = 1/127 = 0.008

The more risky job is working in valley farm ( probability = 1/85 = 0.012 )

Yearly wage of risky job = $159106

payment for less risky job can be calculated using the relation below

statistical life = ( cost incurred to reduce risk) / ( percentage of risk to death reduced )  ---------------- ( 1 )

cost incurred to reduce risk =  yearly wage to high risk workers - yearly wage to low risk workers

 =  159106 - X

percentage of risk to death reduced = (probability of death to high risk workers) - ( probability of death to low risk worker )

= 1/85 - 1/127 = 0.0039

back to relation 1

1262558 = ( 159106 - X ) / ( 0.0039)

159106 - X = 1262558 ( 0.0039 )

hence X ( amount to be paid to workers in the less risky job )

X = 159106 - 4923.9762 = $154,182.02

7 0
2 years ago
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