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denis23 [38]
3 years ago
9

During 2016, Sarasota Corporation spent $164,160 in research and development costs. As a result, a new product called the New Ag

e Piano was patented. The patent was obtained on October 1, 2016, and had a legal life of 20 years and a useful life of 10 years. Legal costs of $36,720 related to the patent were incurred as of October 1, 2016.On June 1, 2018, Sarasota spent $9,720 to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to 12 years from June 1, 2018. Prepare all journal entries required in 2018 and 2019.
Business
1 answer:
Arturiano [62]3 years ago
3 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
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A firm's annual stockholders' report ________. documents the list of all investors who bought the firm's shares during the past
Lapatulllka [165]

Answer:

summarizes and documents the firm's financial activities during the past year

Explanation:

A firm's annual report must include a comprehensive report about the firm's financial and operational activities throughout the year. The SEC requires public corporations to prepare and disclose quarterly reports (every 3 months) that are available to both stockholders and other people interested in them. Generally private companies are required to prepare at least one annual report.

8 0
3 years ago
Suppose that the market for haircuts in a community is perfectly competitive and that the market is initially in long-run equili
zloy xaker [14]

Answer:

C) earning an economic profit.

Explanation:

Since the market is in long run equilibrium, the demand = the supply of haircuts, and an increase in the quantity demanded will increase the equilibrium price in the short run, generating economic profits at least until more suppliers enter the market and long run equilibrium is established again. Economic profit doesn't exist when the market is at long run equilibrium.

*Economic profit = accounting profit - implicit costs. So economic profit being $0 in the long run doesn't mean the businesses are not making an accounting profit.

5 0
3 years ago
If Jenny spends $80 of her own money to make bracelets, and sells between 3-6 of them for $26 each, in either case, is Jenny get
Mars2501 [29]
If she sells 3 she's not getting her money back
3×26=78
But if she sells more than 3 then she's getting her money back and more
7 0
3 years ago
A worker in Thailand can earn $12 per day making cotton cloth on a hand loom. A worker in the United States can earn $82 per day
Grace [21]

Answer:

The capitalization rate per worker in the US is much greater than in Thailand.

Explanation:

What makes the possiblity for the US citizen to earn more for the same job is their capitalization rate. The US has a much greater capital per worker than Thailand thus, the productivity of labor is much higher.

The workers are paid based on the production rather than personal effort this means, the Thai worker may be more strong and skillfull than US worker as it does it at hand but that, is a problem for the worker as with proper equipment it will make more cloth and therefore more goods are produced more value and a higher wage hourly rate is achieved.

6 0
3 years ago
Ninety percent of businesses in the United States are family-owned and managed and account for 62 percent of total U.S. employme
GuDViN [60]

Answer:

True

Explanation:

Large corporations are like the celebrities of the business world, they appear to be glamorous and powerful, but they only represent a small percentage of total businesses.

Small family businesses are by far the largest employer in the country. Small businesses account for 62% of total employment and the public sector accounts for approximately 17%, so corporations (both large and small) only account for 21%. Proportionally corporations due employ more people (8% of businesses generate 21% of jobs) because they are simply much larger. Almost 97% of small businesses employ less than 20 people (89% of total number of businesses).

3 0
3 years ago
Read 2 more answers
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