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Daniel [21]
3 years ago
9

Bird Corp.'s trademark was licensed to Brian Co. for royalties of 15% of the sales of the trademarked items. Royalties are payab

le semiannually on March 15 for sales in July through December of the prior year, and on September 15 for sales in January through June of the same year. Bird received the following royalties from Brian:
March 15 September 15
20X4 $5,000 $7,500
20X5 6,000 8,500
Brian estimated that the sales of the trademarked items would total $30,000 for July through December 20X5. In Bird's 20X5 Income Statement, the royalty revenue should be:______.
a. $13,000.
b. $14,500.
c. $19,000.
d. $20,500.
Business
1 answer:
Romashka-Z-Leto [24]3 years ago
6 0

Answer:

a. $13,000

Explanation:

Calculation for what royalty revenue should be

First step is to find the estimated amount for the second half of the year

Royalties for the second half =

15%*$30,000

Royalties for the second half= $4,500

Now let Compute for the total royalty revenue

Total royalty revenue for 20X5=$8,500+$4,500

Total royalty revenue for 20X5=$13,000

Therefore the royalty revenue should be $13,000

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Answer:

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Explanation:

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6 0
3 years ago
Auditors are required to communicate with the audit committee for all but which of the following: Group of answer choices Critic
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Auditors would comunicate with the audit committee for critical accounting practices including the significant accounting policies and practices for evaluating certain evidences related to the transaction.

   

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5 0
1 year ago
A firm that uses ___________ segmentation divides a market into groups based on life stage, race, or profession.
Triss [41]

Answer:

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I hope my answer helps you

7 0
3 years ago
The management at ABC Computers believes that high sales will result in high profits. Together with the company sales force, man
meriva

Answer:

sales orientation

Explanation:

Sales Orientation -

It is the business method to make profit just by selling the products to the customer rather than considering the needs of the customer , is known as sales orientation .

This method is adapted by to increase the profit margin.

Hence , from the question , the company is using , sales orientation .

4 0
2 years ago
A journal designed for entering only sales on account is called the
grandymaker [24]
The answer to the question stated above is letter c. <span>sales journal.
</span>
Sales journals<span> are used for recording sales of merchandise on account, it is sometimes termed as credit sales.
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