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Juliette [100K]
3 years ago
15

In January, 2006, Findley Corporation purchased a patent for a new consumer product for $720,000. At the time of purchase, the p

atent was valid for fifteen years. Due to the competitive nature of the product, however, the patent was estimated to have a useful life of only ten years. During 2011 the product was permanently removed from the market under governmental order because of a potential health hazard present in the product. What amount should Findley charge to expense during 2011, assuming amortization is recorded at the end of each year?
a. $480,000.
b. $360,000.
c. $72,000.
d. $48,000.
Business
1 answer:
bezimeni [28]3 years ago
8 0

Answer:

b. $360,000.

Explanation:

Data provided in the question

Purchase value of the patent = $720,000

At the time of purchase, the patent life is 15 years

And, the useful life of the patent is 10 years

So, the amortization expense recorded value is

= $720,000 ÷ 10 years × 5 years

= $360,000

The five years is counted from the year 2006 to the year 2011

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3 years ago
Swiss Group reports net income of $40,000 for 2019. At the beginning of 2019, Swiss Group had $200,000 in assets. By the end of
Sati [7]

Answer:

For the tear 2019, net income is 40,000

Beginning of the year 2019, asset of the S are 200,000

Ending of the year 2019, asset of the S are 300,000

Average asset for 2019= Beginning assets + Closing assets / 2

Average asset for 2019= 200,000 + 300,000 / 2

Average asset for 2019= $250,000

Return on assets = Net income / Average assets * 100%

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8 0
3 years ago
The date on a monthly income statement prepared on April 30 is written as________.
Simora [160]

Answer:

(B) For Month Ended April 30, 20--.

Explanation:

Since, the income statement reflects the activities of the specific firm/entity/company for a particular period, therefore the date on income statement is always written in below manner depending on the number of months it represents.

If 12 months are represented by the income statement, then the date on such income statement is written as:

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If 6 months are represented by the income statement, then the date on such income statement is written as:

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If 1 month is represented by the income statement, then the date on such income statement is written as:

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Keeping in view the above discussion, the answer to the question shall be  

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Identify her/his entrepreneurial qualities and support your answer based on what you observed
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Technically, a supply chain stretches from raw materials and parts all the way to customer delivery.
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Technically, a supply chain stretches from raw materials and parts all the way to customer delivery.

The statement is true.

Supply chain management (SCM) is the control of the glide of products and offerings among businesses and locations. this may encompass the motion and storage of uncooked substances, work-in-process stock, completed items, and quit to cease order fulfillment from the point of beginning to the point of intake.

Interconnected, interrelated, or interlinked networks, channels, and node corporations integrate inside the provision of products and services required via quit clients in a supply chain.

Supply-chain control has been described because of the "layout, planning, execution, control, and tracking of deliver chain activities with the goal of creating internet fees, building a competitive infrastructure, leveraging global logistics, synchronizing deliver with a call for and measuring overall performance globally".

<em>Your question is incomplete. Please read below to find the missing content.</em>

Technically, a supply chain stretches from raw materials and parts all the way to customer delivery.​

a. True

b. False

Learn more about Supply chain management here: brainly.com/question/25160870

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