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posledela
2 years ago
7

On May 1, Soriano Co. reported the following account balances along with their estimated fair values:

Business
1 answer:
s2008m [1.1K]2 years ago
6 0

Answer:

Receivables (Dr.) $143,600

Inventory (Dr.) $76,400

Copyrights (Dr.) $577,000

Patented Technology (Dr.) $913,000

Goodwill (Dr.) $32,800

Current Liability (Cr.) $197,000

Long term liability (Cr.) $658,300

Cash (Cr.) $845,000

Contingent Consideration (Cr.) $42,500

Professional Fee Expense (Dr.) $141,000

Cash (Cr.) $141,000

Paid of Investment banking firm

Explanation:

Total of Assets 1,710,000

Total of Liabilities 855,300

Net Assets 854,700

Total Fair value of identifiable Assets 854,700

Fair value of contingent Liability 42,500

Consideration Paid as Cash 845,000

Good will $32,800

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What MIGHT be a solution to unequal development applied by ASEAN, according to Vision 2020? A) free trade B) democratic election
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Answer:

The correct answer is letter "A": free trade.

Explanation:

Free trade allows countries to share their goods and services without boundaries. The most important factor possible thanks to free trade is the access to knowledge and information that could boost economies with low innovation to gather ideas of what actions can be taken to improve their situations.

4 0
3 years ago
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Internet access to use online banking costs you $39.99 per month. A book of checks costs you $17.95 per 100. Your bank charges y
algol [13]

Answer:

$21.9275

Explanation:

The cost of online banking is $39.99

The cost of checks books is $17.95 per 100. The cost associated with 25 checks

= $17.25/100 x 25

=0.1725 x 25

=$4.3125

The cost of a stamp is 50 cents, which is $0.50

for 25 checks

=$0.50 x 25

=$12.5

The writing fee

=$0.05 x 25

=$1.25

Total cost of using checks

= $4.3125 + $12.5 +$1.25

=$18.0625

the difference between online banking and checks

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6 0
3 years ago
Electrodo Co. purchased land for $55,000 with $20,000 paid in cash and $35,000 in notes payable. What effect does this transacti
Archy [21]

Answer:

(c). Net increase in assets of $35,000 and a net increase in liabilities of $35,000

Explanation:

Accrual basis of accounting attempts to record transactions as and when they arise and not on the basis of  when money is actually received or paid. Once a liability is certain, such a liability is provided for immediately.

The journal entry for purchase of Land partly by cash and partly for issuing a notes payable would be:

Land                                                  Dr. $55,000

     To Cash                                                          $20,000

     To Notes Payable                                           $35,000

(Being land purchased by payment of $20,000 in cash and a note being issued against the balance amount)

Land and cash are assets whereas Notes Payable is a liability.

So, the effect of the above transaction would be:

Net increase of $35,000 ( $ 55,000 - $ 20,000) as debit in fixed assets account increases their balance whereas cash being a real account, the rule being debit what comes in, credit what goes out. So credit in cash account would reduce the cash balance by $ 20,000.

Notes Payable account which is to be paid in future is a liability which shall increase the liabilities by $ 35,000.

So, the correct answer is (c), Net increase in assets of $35,000 and a net increase in liabilities of $35,000.  

5 0
3 years ago
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GrogVix [38]
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3 years ago
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A primary market would be utilized when:
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Answer:  Option C

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The market in which existing securities are bough and sold is called secondary market. And the commission is paid in both secondary and primary market.

Hence the correct option is C.

7 0
3 years ago
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