1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Consider a small country that is closed to trade, so its net exports are equal to zero. The following equations describe the eco
viva [34]

Answer:

Y = 300

government multiplier 2

output demanded increase by 20

If income tax is applied:

Y = 272.72

multipliers: 2.253775

increase 22.53775 billons

As disclosure it has a larget effect when the income tax is levied based on income rather than a flat rate.

Explanation:

DI = Y - 100

C = 30 + 0.6(Y - 100)

C = 30 - 60 + 0.6Y

C = 0.6Y - 30

Y = C + G + I

Y = (0.6Y -30) + 120 + 30

Y = 120 / 0.4 = 300

C = (0.6)300 - 30 = 150

With C we solve for the multiplier:

150/300 = 0.5

1 / (1 - 0.5) = 2

10 x 2 = 20

If variable that:

C = 30 + 0.6 (0.75Y)

C = 30 + 0.45Y

Y = 0.45Y + 120 + 30

Y = 150/.55 = 272,72

C = 30 + 0.45Y = 152,72

Propensitivity to consume:

152.72/272.72 = 0,5563

multiplier:

1 (1 - PMC) = 2.253775073

10 nillon will icnrease x 2.25377 = 22.54 billons

8 0
3 years ago
Explain how government actions affect a circular flow model of a mixed economy.
vekshin1

A circular flow economy includes buying and selling between businesses, households, and governments.

The government takes money in through taxes and tariffs, and has expenditures on things like roads, military spending, and other federally funded programs. In this way the government both gives and takes in the economy.

3 0
2 years ago
Santa Fe purchased the rights to extract turquoise on a tract of land over a five-year period. Santa Fe paid $300,000 for extrac
melomori [17]

Answer:

The cost of depletion in the current year is $90,000

Explanation:

Santa Fe's current year cost of depletion=cost of rights*Turquoise extracted in the current year/total estimated turquoise to be extracted

cost of rights is $300,000

turquoise extracted in the current year is 1,500 pounds

total estimated turquoise to be extracted over a five-year period is 5000 pounds

cost of depletion in the current year=$300,000*1500/5000

                                                           =$ 90,000.00  

By extension profit for the year assuming no other costs were incurred is :

$200,000-$90,000=$110,000

4 0
2 years ago
Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability poli
Liula [17]

Answer:

The balance of Eve's Prepaid Insurance account as of December 31, 2021 is $28,200

Explanation:

Computation of prepaid Insurance

Insurance 1 ($55,800*6/18)       =  $18,600

Insurance 2 ($19,200*12/24)     =  <u>$9,600</u>

Total Prepaid Insurance               <u>$28,200</u>

7 0
3 years ago
A loan guaranteed with property is called?
tigry1 [53]

the name is mortgages

explanation=Mortgage Notes are promissory notes guaranteed with a document called a partnership that mortgages property rights as collateral for loans. ... However, if a "point" assessment is imposed by the lender, the total amount received by the borrower is less than the nominal value of the note.

4 0
3 years ago
Other questions:
  • Presented below are three economic events. In each column, indicate whether the event increased, decreased, or had no effect on
    12·1 answer
  • When a monopolist switches from charging a single price to perfect price discrimination, it reduces the quantity produced. the f
    6·1 answer
  • Primare Corporation has provided the following data concerning last month’s manufacturing operations.
    11·1 answer
  • Debeers sells most of the diamonds it produces to industry. the company controls over 90 percent of the market and has great pow
    5·1 answer
  • EA10.
    10·1 answer
  • Innovations such as the microchip and the Internet lead to business cycle variations because
    13·1 answer
  • The Lancet, a leading medical journal, published a paper on a possible link between autism in children and the measles, mumps, r
    10·1 answer
  • Which market segmentation dimension describes consumers by the groups with which they associate?
    10·1 answer
  • Joe quits his computer programming job, where he was earning a salary of $50,000 per year, to start his own computer software bu
    14·1 answer
  • In the context of choosing an appropriate advertising media, at present the brands that cater to the older generations are not s
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!