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IRINA_888 [86]
3 years ago
15

On January 4, 2013, Franc Company purchased for $27,000 a patent that had been filed 8 years earlier. The patent covers a manufa

cturing process that the company plans to use for 15 years. On January 3, 2014, the company paid its lawyers $10,000 for successfully defending the patent in a lawsuit. Required:____.
Prepare all the journal entries associated with the patent in 2019 and 2020
Business
1 answer:
viva [34]3 years ago
6 0

Answer:

depreciation expense 2,514.28 debit

              patent                   2,514.28 credit

--to record 2019 amortizationon patent--

depreciation expense 2,514.28 debit

              patent                   2,514.28 credit

--to record 2020 amortization on patent--

Explanation:

On 2013 the patent is amortized:

27,000 / 15 = 1,800

On 2014 as the defend is successfull we capitalized into the atent account which now has 14 year of useful life:

27,000 - 1,800 + 10,000 = 35,200 balance at Dec 31th 2014

amorization per year:

35,200 / 14 = 2.514,2857

We will do the amortization at this rate until a new defense arise or the patent market vale decrease.

We aret givne with any additional information thus, we have to record for 2019 and 2020 the 2,514 depreciation

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Answer:

Customs Duty is a tariff or tax imposed on goods when transported across international borders. The purpose of Customs Duty is to protect each country's economy, residents, jobs, environment, etc., by controlling the flow of goods, especially restrictive and prohibited goods, into and out of the country.

8 0
3 years ago
Sprout has created a unique market offering by integrating its programs with both children and parents. This unique offering tha
FrozenT [24]

Answer: Differentiating

Explanation:

Sprout company as described in the question are making use of product differentiation to ensure parents and children consumption needs are met. Product differentiation in marketing occurs when a company distinguishes their products to meet the needs of the different types of consumer groups available in their target market.

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3 years ago
The Walton family got a great deal on their new home. They bought it for $101,295, and it appraised at $187,000 in a region wher
Vesna [10]

The assessed value of their new home is $46,750.

<h3>Assessed value</h3>

Using this formula

Assessed value=Appraisal amount× Assessment ratio

Where:

Appraisal amount=-$187,000

Assessment ratio=25%

Let plug in the formula

Assessed value=$187,000 × 0.25

Assessed value = $46,750

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7 0
1 year ago
Which of these statements about cycle inventory is​ BEST? A. Cycle inventory exists to avoid customer service problems. B. Cycle
zavuch27 [327]

Answer:

<em>A. Cycle inventory exists to avoid customer service problems.</em>

<em></em>

Explanation:

Cycle inventory is the part of inventory kept by a supplier, that shows the amount of inventory available to satisfy demand. Cycle inventory allows the supplier to keep track of his available inventory so as to remove the problem of not meeting customers demand, which can led to loss of customers. And also to reduce the problem of over-storage that can lead to additional holding charge.

4 0
3 years ago
The researcher wants to investigate whether carpet makes a difference in the mean bacterial concentration in air. the null and a
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The researcher wants to investigate whether carpet makes a difference in the mean bacterial concentration in air. the null and alternative hypotheses would be:

H0: The mean of the carpeted rooms = the mean of the uncarpeted rooms

Ha: The mean of the carpeted rooms ≠ the mean of the uncarpeted rooms

The attention of bacteria majorly depends on the awareness of inoculum, incubating temperature, and the metabolic country of inoculated pressure used. The bacterial concentration suspended in growth media may be calculated.

In idea, you could listen to cells through filtration or centrifugation, but likely no greater than a hundredfold. for your case, you're asking to concentrate by 10,000 fold. So you sincerely might want to develop denser cultures of cells. You can centrifuge your modern broth and resuspend the pallet in a clear broth.

In microbiology, the minimal inhibitory attention (MIC) is the lowest concentration of a chemical, generally a drug, which prevents the visible boom of a bacterium or bacteria.

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8 0
1 year ago
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