1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
krek1111 [17]
3 years ago
5

On January 1, 2017, Grand Haven, Inc., reports net assets of $945,300 although equipment (with a four-year remaining life) havin

g a book value of $510,000 is worth $591,500 and an unrecorded patent is valued at $45,000. Van Buren Corporation pays $857,440 on that date to acquire an 80 percent equity ownership in Grand Haven. If the patent has a remaining life of nine years, at what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2018?
Business
1 answer:
sineoko [7]3 years ago
3 0

Answer:

patent on the consolidated estament: 32,000

Explanation:

45,000 x 80% = 36,000

36,000 / 9 = 4,000 amortization per year

 patent of Grand heaven

<u>      debit           credit        </u>

  36,000 recognize at purchase

                        4,000 december 31th amortization

  32,000 balance.

You might be interested in
The maximum penalty for failure to report that you accepted a gift from a non-federal entity may result in
Rasek [7]

The term "gift" is broadly defined and includes any gratuity, favor, discount, entertainment, hospitality, loan, forbearance, or other item having monetary value. It includes services as well as gifts of training, transportation, local travel, and lodgings and meals, whether provided in-kind, by purchase of a ticket, payment in advance, or reimbursement. 

For failure to report the acceptance of a gift from a non-federal entity may result in punishment under the UCMJ - the Uniform Code of Military Justice.

7 0
3 years ago
Helen, a manager for Marshall Manufacturing, spends much of her time reviewing the global, technological, socio-cultural, compet
Dvinal [7]

Answer:

The statement is: True.

Explanation:

Environmental scanning refers to the analysis companies make of the immediate and further atmosphere that will allow them to spot <em>threats </em>to counteract or mitigate them and <em>opportunities </em>from where the firm can make a profit. Organizations engaging environmental scanning constantly review different mediums of communication and conduct researches that will keep them up-to-date on market fluctuations.

8 0
3 years ago
Teach for america works to solve which societal problem
aniked [119]
<span>Teach for america works to solve the problem of educational inequality. Teach for America’s network includes more than 10 00corps members teaching in 46 regions across the country. Teach for America corps members are as effective as- an in some cases more effective than- other teachers. They are funded by contritbutions from business, foundations, government ogranizations , and individuals in the regions where corps members teach.</span>
6 0
3 years ago
In _____________ negotiation, the agreement involves no loss to either party.
Sophie [7]
<span>Integrative negotiation </span>
4 0
3 years ago
Cash investments made by the owner to the business are reported on the statement of cash flows in the
Julli [10]

Answer:

d. financing activities section

Explanation:

cash investment made by the owner and their withdrawals will be in the financing activities section

On the financing activities, the accounting does a detail ofthe origin of funds which paid for the assets. These funds could be from owners or lenders.

Therefore, the equity transactions are included in the financing activities sections

From the owner point of view, it is an investment. But, we must remember that the owner and te company are different entities. For the company it is financiation

6 0
3 years ago
Other questions:
  • Company XYZ is looking for a Finance/Accounting intern. The student filling this position will handle a wide range of important
    15·1 answer
  • What is 10% of 500,000<br><img src="https://tex.z-dn.net/?f=10%5C%25of50.000%20%5C%5C%20" id="TexFormula1" title="10\%of50.000 \
    7·2 answers
  • In order to understand how a specific business firm uses information systems, you need to know something about the history and c
    12·1 answer
  • According to the Katznelson text, large corporations have disproportionate political power mainly because ___.
    7·1 answer
  • What type of insurance protects a business against injuries on the premises? Question 3 options: A) Workers' compensation B)Comp
    12·2 answers
  • Which transaction would cause one asset to increase and another asset to decrease?
    5·1 answer
  • The act of dividing a market into segments of customers is referred to as
    8·1 answer
  • __________ strategy describes the use of benefit and compensation packages in order to support both HR and competitive strategie
    8·1 answer
  • Folklore Music manufactures harmonicas. Folklore uses standard costs to judge performance. Recently, a clerk mistakenly threw aw
    8·1 answer
  • joe, a hair dresser, offers students a discount price on haircuts. this form of pricing is an example of
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!