Answer:
Check the explanation
Explanation:
Patents and Copyrights are amortized based on their useful life, not their legal life
It should be noted that Goodwill is not amortized
1. Debit 'Amortization Expense - Copyrights' $15,900 [($79500/ 5)]
Credit 'Copyrights' $15,900
2. Debit 'Amortization Expense - Patents' 18,800 [($112,800 / 5 ) x (10 /12 )]
Credit 'Patents' $18,800
.3. No entry
One for just regular card usage, one for savings and one for emergencies.
Answer:
Option D Are obligations that the company is to pay within the forthcoming year.
Explanation:
The liabilities are the obligation of the company that has arisen due to the occurence of past event and the organization is liable to pay the consideration (something that is valuable in monetary terms) to party. Their are many obligations that are not written in the financial statement which IAS 37 Provisions, Contingent Liabilities and Contingent Assets, does not permit to include in financial statement depending upon the chances of liability arising is remote or reasonably possible but not certain or probable. So the right answer is option D.
Answer:
the answer is D.a bill board
Answer:
C) No/Yes
Explanation:
An income statement (profit and loss account) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It indicates how the revenues are transformed into the net income or net profit
Absorption cost is a method of calculating the cost of a product or enterprise by taking into account indirect expenses (overheads) as well as direct costs.
How do you calculate total period cost under absorption costing?
Income statement shows Sales – Cost of Goods sold = Gross Margin (or Gross Profit) – Operating Expenses = Net Income and is based on the number of units SOLD.
