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Lostsunrise [7]
2 years ago
14

Overdraft fees can be avoided by

Business
1 answer:
o-na [289]2 years ago
5 0

Answer:

paying on time most of the time

Explanation:

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In January of 2018, the Phillips Company purchased a patent at a cost of $100,000. In addition, $10,000 in legal fees were paid
soldi70 [24.7K]

Answer:

The answer is: $113,000

Explanation:

By 2020, Phillips Company had already amortized $22,000 of the patent expenses (2 years x [10% x ($100,000 + $10,000)]). Since it lost its patent defense in 2020, it will now have to write off $113,000 ($88,000 pending amortization + $25,000 in legal fees) for the adjustment of its 2018 income.

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2 years ago
What is global economy
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Howard Corporation issued a 20-year mortgage note payable on January 1. On December 31, the unpaid principle balance will be rep
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Answer:

c. a long-term liability.

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Short term liabilities are those liabilities which need to be paid within one year time and Long term liabilities are those liabilities which need to be paid after one year time.

In this question on December 31, Howard Corporation need to pay the principal in 19 years from now, as it it a long period, so amount of principal will be classified as a long-term liability.

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