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
ExtremeBDS [4]
3 years ago
12

Cullumber Company incurred research and development costs of $101000 and legal fees of $41000 to acquire a patent. The patent ha

s a legal life of 20 years and a useful life of 10 years. What amount should Cullumber record as Patent Amortization Expense in the first year
Business
1 answer:
MArishka [77]3 years ago
4 0

Answer:

$14,200

Explanation:

<em>Step 1 Determine the Cost of the Patent </em>

Research and Development costs        $101000

<em>Add</em> legal fees                                         $41000

Total                                                         $142,000

<em>Step 2 Determine Amortization Expense </em>

Amortization Expense = Cost/ Useful life

                                     = $142,000/10 years

                                     = $14,200

You might be interested in
Mill Co.'s trial balance included the following account balances at December 31, Year 6:
o-na [289]

Answer:

D) $45,000

Explanation:

The computation of the amount which is included in the current liability section is shown below:

= Account payable balance + bonds payable -  discount on bonds payable + dividend payable

= $15,000 + $25,000 -  $3,000 + $8,000

= $45,000

The current liability is that liability which is arise for one year. Since, the notes payable is a long term liabilities so we do not consider in the computation part.

4 0
2 years ago
Please help solve: Suppose that initially the money supply is $1 trillion , the price level equals 3, the real GDP is $5 trillio
topjm [15]
The new price level after the increase in the money supply is 3.3. Therefore, the percentage increase in the money supply is 10%. The percentage change in the price level is 10%. Percentage change in the money supply is the same as the percentage change in the price level.
3 0
3 years ago
By using bootstrap marketing strategies (unconventional, low-cost, creative techniques) small companies can get as much "bang" f
Marat540 [252]

Answer:

The given statement relates to bootstrap marketing strategies

Explanation:

In simple words, Bootstrap marketing relates to an advertising strategy usually used by entrepreneurs to create a business from the bottom up with little but private money and, luckily, money from the very first sale.

 This method is usually used by start ups for capturing initial market share and with the expertise of an angel investor they can really go for high goals.

8 0
3 years ago
Another name for the originator of a change plan is known as ________.
victus00 [196]
The answer to this question is a Change agent.

A change agent is a person that can be inside or from outside the company / organization that will help the company to change their processes and helps the organization to re-evaluate their day to day operations. A change agent also sees to it that the operations of the company will improve, develops, and become effective after the evaluation.
3 0
3 years ago
Massage Envy offers massage services on a subscription basis, so it targets consumers that desire to get multiple treatments per
Anton [14]

Answer:

C. usage rate.

Explanation:

As in the question,  it is mentioned that Massage Envy offers massage services based on a subscription basis with a view to targeting the consumers that they get more or multiple treatments per month

So  Massage Envy target the market segment via usage rate as it depicts the average sales per day so that they get to know how much they earned the revenue by offering multiple treatments to clients

hence, the correct option is C. usage rate

5 0
3 years ago
Other questions:
  • Which accounts are affected in the closing process under a perpetual inventory system?
    14·1 answer
  • What is consumer vigilance? Select the best answer from the choices provided. A. being aware of risks to consumers B. being fear
    12·1 answer
  • ____ includes the planning, executing, and controlling of all activities involved in raw material sourcing and procurement, conv
    15·1 answer
  • What does it mean when a part of the population is​ under-represented?
    14·1 answer
  • Interest earnings of 4 percent with a $450 minimum balance; average monthly balance, $600; monthly service charge of $20 for fal
    8·1 answer
  • ABC Manufacturing Inc. ends the month with two jobs still in progress. Job 5 has $10,000 of materials, $2,000 of direct labor an
    11·1 answer
  • A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350
    11·1 answer
  • Who is Adam Smith and what is his belief about prices? Do you agree or disagree? Why?
    9·1 answer
  • Please help me! Timed!<br><br> Thanks!
    6·2 answers
  • What is the importance of physical distribution?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!