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Alexxx [7]
3 years ago
10

The Fremont (Ireland) Flyers were a semi-professional carriage racing team that competed up until the early 1930's. Mary Smith o

wns the Fremont Fliers' trademark, and recently licensed it to the Fremont (California) Flyers roller derby team. The license allows the roller derby team to use the trademark for five years for a total of $15,000. Under U.S. GAAP, how much revenue would Mary recognize in year 1 of the license?
a. $0
b. $1,500
c. $3,000
d, $15,000
Business
1 answer:
hoa [83]3 years ago
3 0
Trademark for five years would be on answer a.
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Luebke Incorporated has provided the following data for the month of November. The balance in the Finished Goods inventory accou
r-ruslan [8.4K]

Answer:

234,900

Explanation:

Calculation to determine what The adjusted cost of goods sold that would appear on the income statement for November is:

First step is calculate the Over applied overhead

Over applied overhead = $59,200-$55,900

Over applied overhead = 3300

Second step is calculate the Unadjusted cost of goods sold

Unadjusted cost of goods sold = 55000+$213,500-30,300

Unadjusted cost of goods sold= 238,200

Now let determine the Adjusted cost of goods sold

Adjusted cost of goods sold = $238,200-3300

Adjusted cost of goods sold= 234,900

Therefore The adjusted cost of goods sold that would appear on the income statement for November is:234,900

5 0
3 years ago
Why did the Great Depression of 1928 affect people from almost all parts of the world?
Zigmanuir [339]

Answer:

C. Sharp rise in price of goods in the United States led to an increase in imports.

Explanation:

The Great Depression was a period of severe economic meltdown or downturn (crisis) of the industrialized world and it started from the United States of America, typically lasting for about ten years (1929-139).

Basically, the Great Depression started in America on the 4th of September, 1929 as a result of a major fall in the prices of stocks and consequently, leading to a stock market crash on the 29th of October, 1929.

Hence, the negative effects of the Great Depression includes a decline in investments, tax revenues, market price, personal income level, consumer spending, profits and a general rise in unemployment rate.

In conclusion, the Great Depression of 1928 affect people from almost all parts of the world because sharp rise in price of goods in the United States led to an increase in imports.

8 0
3 years ago
Read 2 more answers
Bottum Corporation, a manufacturing Corporation, has provided data concerning its operations for May. The beginning balance in t
ankoles [38]

Answer:

b) $54,500

Explanation:

Beginning balance of raw material = $27,500

Ending balance was = $51,000

Purchases = $78,000

Direct cost of raw material is the net of the addition of the opening balance of raw materials and purchases less the closing balance. The manufacturing overhead cost is a mix of all the indirect cost incurred during production.

As such, the manufacturing overhead cost of $118,500 consisting of $3,500 consisted of raw materials would not be considered in determining the direct raw material cost.

Direct cost of raw material = $27,500 + $78,000 - $51,000

= $54,500

6 0
3 years ago
Personal Accents, Inc., (PAI) is a publicly held company that specializes in selling a variety of skin- and hair-care products.
Ilya [14]

Answer:

The answer is option “d” – selling PAI stock short.

Explanation : Short selling should be done only when the share prices are expected to fall. In this case PAI stocks are set to rise in a gradual manner and short selling will lead to losses.

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I am the head of a major company and it has been brought to my attention that
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