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Marrrta [24]
3 years ago
14

The general ledger of Vance Corporation as of December 31, 2020, includes the following accounts: Copyrights $30,000 Deposits wi

th advertising agency for future services $27,000 Discount on bonds payable $70,000 Excess of cost over fair value of identifiable net assets of acquired subsidiary $480,000 Trademarks $90,000 In the preparation of Vance's balance sheet as of December 31, 2020, what should be reported as total intangible assets?
Business
1 answer:
Reil [10]3 years ago
5 0

Answer:

The amount of $600,000 would be reported as the intangible assets

Explanation:

Intangible assets are those assets which are not physical in nature and its example are goodwill, copyrights, patents and copyrights.

The amount which is to be reported as the intangible assets is as:

Intangible assets = Copyrights + Trademarks + Acquired subsidiary

where

Copyrights amounts to $30,000

Trademarks amounts to $90,000

Acquired subsidiary amounts to $480,000

Putting the values above:

Intangible assets = $30,000 + $90,000 + $480,000

Intangible assets = $600,000

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Donovan manages a warehouse with over 1,000 associates performing a variety of tasks. After walking through the building talking
Vitek1552 [10]

Answer: by instructing his teams to create mission statements with clearly defined goals

Explanation:

These are the options:

A. by dismantling the teams so he can make one goal for the entire facility

B. by instructing his teams to create mission statements with clearly defined goals

C. by making all employees trade jobs for several weeks so they have more in common

D. by increasing the dependence of the teams on each other so all tasks share common goals

E. by giving each worker a set amount of time to find out what their goals should be or face discipline

From the question, we will realize that Donovan learned that just few of the workers in the company share any sense of common goals within teams as there was He notes disparity in what the workers were doing and the goals to be accomplished.

Based on the above scenario, he should instruct his team to create mission statement that has clearly defined goals. The mission statement will show the reason for the existence of the organization, the goal of the organization, the kind of product or service rendered etc. This will help the workers know what is expected from all of them and work towards it.

7 0
3 years ago
A company's skills are functions—such as customer service and promotions—that the firm performs better than its competitors
Tasya [4]

Answer:

Here the given statement is true.

Explanation:

The given above statement is true , customer service and promotions are recognized as a company's skill set , which if a company would perform better than its competitors than it would be able to attract more customer base and even retain its target audience. Customer service skills are really important for every company as these skills helps in increasing its target consumers and retain them by addressing the customers redressal, fulfilling their needs and wants and improving their experience.

8 0
3 years ago
Read 2 more answers
Chadwick Enterprises, Inc., operates several restaurants throughout the Midwest. Three of its restaurants located in the center
zalisa [80]

Answer:

1. $2.5 million

2. $0

Explanation:

1. Since the book value is more than the generated future cash flows so book value cannot be recovered. In this case, the generated future cash flows are ignored  

In this scenario, we compare the values between book value and the fair value of machinery, the difference would be the loss on impairment of the asset

In mathematically,  

= Book value  - fair value

= $6.5 million  - $4.0 million

= $2.5 million

2. In this case, the sum of future cash flows is exceeded than the book value. So, no impairment loss would be recognized i.e zero amount

6 0
3 years ago
An economy is created by the interactions between which two groups of people? (Select the best answer.)
Veronika [31]
<span>An economy is created by the interactions between producers and consumers.</span>
8 0
3 years ago
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Suppose the wholesale market for corn is a perfectly competitive market, and all firms in the corn industry are profit-maximizin
Ainat [17]

Answer:

Therefore option A is correct.

All firms selling corn must have the same MC regardless of each firms cost structure

Explanation:

In the perfectly competitive market, for profit maximization we set P = MC

In the perfectly competitive market, firms are price taker so demand curve is same for every firm and price is same too, so MC must be same for every firm

Therefore option A is correct ie. all firms selling corn must have the same MC regardless of each firms cost structure.

7 0
3 years ago
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