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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
You might be interested in
Steven consumes only two goods, both of which are normal goods. He is currently maximizing his utility in consumption of both go
zzz [600]

Answer:

The answer is: remain the same

Explanation:

The marginal utility of a good or service is how much better we feel when consuming an extra unit of that good or service. For example if we are very thirsty, the marginal utility of consuming a can of Coke is very large, but once our thirst is quenched, an extra can of Coke will not provide use with that much satisfaction as before.

If the price of a substitute good increases, the marginal utility of the good whose price didn't change, will remain the same.

Let's go back to the Coke example. An extra can of Coke will give me 5 more satisfaction units (I'm assuming I can measure satisfaction) and an extra slice of pizza will give me 7 more units of satisfaction. If the price of Coke increases from 50 cents to $1, its marginal utility will decrease. I will buy more pizza because the satisfaction I get from drinking Coke is now smaller.

4 0
3 years ago
One of the disadvantages of investing in real estate is A) investors need expert help. B) pyramiding. C) equity buildup. D) leve
mixer [17]

There are many disadvantages of investing in real estate and one of it is A) Investors need expert help.

<h3>What is Real estate?</h3>

The investment in property is known as real estate investment. There are many investors who invests in such assets, and earn rentals and capital gains.

The investment in real estate needs expert advice as the person who is the advisor should have the market information so that the perfect price can be quoted in order to purchase or sell an asset.

Learn more about Real Estate at brainly.com/question/27237569

#SPJ1

8 0
1 year ago
Suppose the price of gasoline decreases from $4.20 to $2.00, and in response quantity demanded increases from 10600 to 11200. Us
Tems11 [23]

Answer:

0.079

Explanation:

Price elasticity of demand using midpoint formula can be calculated as follows

Formula

Elasticity of demand = (change in quantity/average quantity)/(change in price/average price)

Calculation

Elasticity of demand = (600/10,900)/(-2.1/3.05)

Elasticity of demand =-0.055 / -0.688

Elasticity of demand =-0.079

working

Change in price (2-4.1) = -2.1  

Average price (2+4.1)/2=3.05

Change in quantity (11,200-10600) = 600

average quantity (11,200+10,600)/2 = 10,900

 

The elasticity of demand is inelastic as the elasticity is below 1.

4 0
3 years ago
Emerald corporation's current ratio is 0.5, while ruby (emerald's competitor) company's current ratio is 1.5. Both firms want to
ruslelena [56]

Answer:

b. Only Emerald Corporation's current ratio will be increased.

Explanation:

Given that

Emerald current ratio is

= 0.5 i.e. = 0.5 ÷ 1

now in case when the current liability is doubles , so the current assets is

= 0.5 + 1 = 1.5

And, the cuurrent liabilities is

= 1 + 1

= 2

so new ratio is

= 1.5 ÷ 2

= 0.75

Now  

Ruby current ratio is

= 1.5

i.e. = 1.5 ÷ 1

Now in case when the current liability is doubled,

the current assets is

= 1.5 + 1

= 2.5

And, current liabilities is

= 1 + 1

= 2

Now new ratio is

= 2.5 ÷ 2

= 1.25

Therefore the emerald current ratio is rised from 0.5 to 0.75

And, the Ruby's ratio has decline from 1.5 to 1.25

7 0
3 years ago
According to the Small Business Administration, the percentage of businesses that
Oksi-84 [34.3K]

Answer:

50%

Explanation:

7 0
3 years ago
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