Answer:
A. Intangible assets
Explanation:
Intangible assets: They refers to assets that are not physical in nature. They are identifiable, non-monetary assets without physical substance such as brand recognition, intellectual property. Intellectual property includes patent right, copyright, and trademarks.
Intangible assets lice brand names are non physical in nature unlike tangible assets that are phsysical. Examples of tangible assets are building, vehicle, land, machineries and furnitures. They are assets that is expected to generate economic return in the future.
There are two classes of intangible assets
1. Identifiable intangible assets: These are intangible assets that can be separated from other assets such as copyright, trademarks and patent.
2. Unidentifiable intangible assets: They are assets that cannot be separated from other assets such as Goodwill.
The item should be
reported as a prior period adjustment: On the 2014 statement of retained
earnings.
To add, depreciation<span> <span>is the process by which a company allocates an
asset's cost over the duration of its useful life. Every time a company
prepares its economic statements, it records a </span>depreciation expense<span> to
allocate a portion of the cost of the buildings, machines or equipment it has
purchased to the current fiscal year</span>.</span>
Answer:
Congress acts to cut tax rates or increase government spending, shifting the aggregate demand curve to the right.
Explanation:
Contractionary fiscal policy occurs when Congress raises tax rates or cuts government spending, shifting aggregate demand to the left.
Answer:
The correct solution is:
(a) $44.21
(b) $47.30
Explanation:
(a)
According to the question,
Stock price,
S = $40
Risk free rate,
r = 10%
= 0.10
Delivery rate,
t = 1
Mathematical constant,
e = 2.72
Now,
The forward price will be:
⇒
On substituting the estimated values, we get
⇒
⇒ ($)
(b)
6 months later,
The forward price will be:
⇒
⇒
⇒ ($)
The initial value becomes assumed to be zero (0) since forward contracts constitute procurement deals which really determine the exchanging of a particular property though on a fixed period although at a price that has been accepted today.
Answer:
July 15
Dr Cash $24,960
Cr Sales $24,000
Cr Sales Taxes Payable $960
Dr Cost of Goods Sold $12,000
Cr Merchandise Inventory $12,000
On August 1
Dr Sales Taxes Payable $960
Cr Cash $960
On November 3
Dr Cash $720
Cr Unearned Ticket Revenue $720
On November 20
Dr Unearned Ticket Revenue $120
Cr Ticket Revenue $120
Explanation:
Preparation of the journal entries
July 15
Dr Cash $24,960
($24,000+$960)
Cr Sales $24,000
Cr Sales Taxes Payable $960
($24,000*4%)
Dr Cost of Goods Sold $12,000
Cr Merchandise Inventory $12,000
On August 1
Dr Sales Taxes Payable $960
Cr Cash $960
($24,000*4%)
On November 3
Dr Cash $720
Cr Unearned Ticket Revenue $720
On November 20
Dr Unearned Ticket Revenue $120
Cr Ticket Revenue $120
(1/6*$720)