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dsp73
2 years ago
14

Johan Co. has an intangible asset, which it estimates will have a useful life of 10 years, while Abco Co. has goodwill, which ha

s an indefinite life. Which company should report amortization in its financial statements
Business
1 answer:
Marrrta [24]2 years ago
5 0

Answer:

Johan Co.

Explanation:

Since in the question it is given that the Johan Co. has an intangible asset and we already know that on an intangible asset, the amortization expense is charged whereas on the other side the Abco Co has goodwill on which the impairment is charged

So, in the given scenario, the amortization should be reported on Johan Co financial statements only

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astra-53 [7]

Answer: c. is designed to describe a product’s characteristics and is usually associated with search goods.

Explanation: Advertising is a commercial solicitation designed to sell some commodity, service or similar with the aim to inform, persuade and to remind. Informative advertising is designed to describe a product’s characteristics, is usually associated with search goods and creates awareness of brands, products, services, and ideas. Thus, it announces new products as well as educating the target audience about the various attributes and benefits of the product.

4 0
3 years ago
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Answer:

Explanation:

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4 0
3 years ago
A monopoly industry:A. has very significant barriers to entry. B. faces a downward sloping demand curve. C. produces a product f
Kryger [21]

Answer:

The correct answer is option E.

Explanation:

A monopoly is a market where there is only single producer or seller. There are restrictions on entry in the market. The firms in the monopoly are price makers. That is why they have a downward sloping demand curve.

There are no close substitutes for the product and there is only one seller in the monopoly.

The firm may earn profit or loss or profits in the short run based on its revenue and cost conditions.

So, all the options given are correct.

7 0
3 years ago
Belvedere Corporation had a balance in its Equipment account on January 1, Year 1 of $341,200. During the year, equipment origin
Varvara68 [4.7K]

Answer:

$56,600.00

Explanation:

The amount the company spent on purchase of additional equipment during year 1 can be ascertained using the formula below:

amount spent on additional equipment=ending balance of equipment-(beginning balance-cost of equipment sold)

ending balance of equipment is  $304,700

beginning balance is $341,200

cost of equipment sold is $93,100

amount on additional equipment=$304,700-($341,200-$93,100)=$56,600.00  

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