For each item listed the allocation terminology for the items are as follows:
Amortization: Copyrights, Patents, Trademarks and Annual licensing fees.
Depreciation: Buildings, Equipment and Land Improvements.
Depletion: None.
None of these: Land, Research and Development Costs and Franchises.
<u>Explanation:</u>
Throughout accounting, amortization applies to multiple-period distribution of revenues. The concept is used for two isolated processes: loan amortization and asset amortization. Depreciation is the reduction in asset value and the process used to redeploy or "write down" a tangible asset's expense (like equipment) over its expected life period.
Depletion is a term of accounting and taxation generally used in coal, forestry, petroleum, or other related industries. Depletion is identical to depreciation in that it is an accounting and tax tracking system for cost recovery.
Answer:
The company reported $61,250 amount of Cost of Goods Sold
Explanation:
As gross profit percentage is the net percentage of sales revenue and cost of goods sold. We can find the cost of goods sold percentage as follow
Gross profit = Sales - Cost of Goods Sold
Placing the percentage
65% = 100 % - Cost of Goods sold
Cost of Goods sold = 100% - 65%
Cost of Goods sold = 35%
Now calculate the value of cost of goods sold using following formula
Cost of goods sold percentage = Cost of good sold / Sales Revenue
35% = Cost of Goods sold / $175,000
Cost of Goods sold = $175,000 x 35%
Cost of Goods sold = $61,250
<span>Simulation. It is the imitation of the operation of a real-world process or system over time. Simulation testing lays on the intersection of both property-based and example-based testing. It provides strong guarantees about externally-visible, client behavior. This is done in a controlled environment.</span>
Answer:
listen to the entire complaint
Explanation:
In the scenario being described, you should listen to the entire complaint. This will make the customer feel as though you are paying attention and listening/understanding her frustration and by doing so you might also acquire new information regarding the issue that was not previously shared to the other technician. Once the client has finished venting her anger and explaining the situation, only then should you begin to offer a solution.
Explanation:
The journal entries are shown below:
1. Salaries expense A/c Dr $1,200 ($400 × 3 days)
To Salary payable A/c Dr $1,200
(Being the accrued salary is recorded)
The 3 days are calculated from December 28 to December 31
2. Salaries expense A/c Dr $4,400 ($400 × 11 days)
Salary payable A/c Dr $1,200
To Cash A/c $5,600
(Being the payment is recorded)
3. Now the adjusted balance of Salaries Payable is
= Salaries Payable before adjustment in 2015 + Adjusted balance
= $0 + $1,200
= $1,200
