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
umka2103 [35]
3 years ago
5

Franklin designs purchased the patent of a new couch design. the patent had a remaining life of 18 years, so franklin amortized

the cost of the patent over 18 years. however, experts believe that the couch design will only be popular for six years. how will this affect the accuracy of franklin's financial statements?
Business
1 answer:
lys-0071 [83]3 years ago
6 0
<span>If amortisation expenses are spread over 18 years rather than 6 years, amortisation expenses will be lower than they should be. This will cause an increase in net income. In addition, because less of the cost has been expensed, the remaining value of the patent will be too high, thus overstating assets.</span>
You might be interested in
Orange manufactures orange juice. last month's total manufacturing costs for the operation included:_______
Black_prince [1.1K]

Orange manufactures orange juice. final month's overall production costs for the operation covered: Direct exertions, production overhead, and conversion fees.

Manufacturers are described because of the creation of recent merchandise, either from raw materials or components. Examples of products include car companies, bakeries, shoemakers, and tailors, as all of them create products, as opposed to presenting offerings.

Manufacturers are the making of products by means of hand or via gadgets that upon finishing touch the business sells to a customer. items utilized in manufacture may be raw substances or component components of a larger product. the production generally takes place on a massive-scale production line of equipment and professional exertions.

A manufacturer is any enterprise that produces completed items from uncooked substances. They sell these items to clients, wholesalers, distributors, shops, and different manufacturers trying to create more complicated gadgets. manufacturers typically persist with one form of the product.

Learn more about manufacturers here: brainly.com/question/26320301

#SPJ4

7 0
1 year ago
What style of leadership is grounded in the exchange relationship between the leader and the follower
Annette [7]

Answer: Transactional leadership

Explanation:

Transactional leadership a style of leadership that grounded in the exchange relationship between the leader and the follower.

For transactional Leadership, promotion of compliance is done through both rewards and punishment.

7 0
3 years ago
In September, Jeanette Company purchased materials costing $34,400 and incurred direct labor cost of $22,100. Manufacturing over
DedPeter [7]

Answer:

a. $34,900

Explanation:

The computation of the cost of direct material used is shown below:

= Opening balance of raw material + purchased materials - ending balance of raw material

= $10,300 + $34,400 - $9,800

= $34,900

Hence, the correct option is a.

7 0
3 years ago
During its first year of operations, Mack's Plumbing Supply Co. had sales of $550,000, wrote off $8,800 of accounts as uncollect
vova2212 [387]

Answer:

$60,500

Explanation:

With regards to the above, the write off does not affect the realizable value of accounts receivables. Also, the total asset or net income is not affected by the write off or specific account. Instead, both assets and net income are affected in the period when bad debt expense is predicted and then recorded with an adjusting entry.

Accounts receivables

$550,000

Less:

Allowance for doubtful account

($550,00 × 2.5%)

($13,750)

Estimated realizable accounts receivables

$536,250

If the amount of bad debt decreases or increases as given below, then the income is also increased or decreased by the amount given.

Bad debts = $13,750

Uncollectible previously written off = $8,800

Difference

$4,950

Net income

$60,500

Less:

Difference

($4,950)

Reported income

$55,550

3 0
3 years ago
The economy continues to descend into chaos. The stock market still moves down after it makes progress forward, and unemployment
BaLLatris [955]

Answer:

A) . It is going to be a while before things get better in the United States.

Explanation:

3 0
3 years ago
Read 2 more answers
Other questions:
  • What do most real estate agents represent?
    8·1 answer
  • The writing for a proposal should
    10·1 answer
  • In a ________, two or more companies at one level join together to follow a new marketing opportunity. franchise multichannel di
    11·1 answer
  • Mr. G obtains a $70,000 loan today. He will repay the bank with equal payments to be made at the end of each 6-month period, or
    5·1 answer
  • Mike Samson is a college football coach making a base salary of $651,600 a year ($54,300 per month). Employers are required to w
    11·1 answer
  • What is the impact on the non-controlling interest of a subsidiary when there are downstream transfers of inventory between the
    15·1 answer
  • A firm has the following forecast information for sales of Product X: April 15,000 units May 17,000 units June 19,000 units July
    7·2 answers
  • A factory can produce cars and trucks. If the price of cars increases, then the supply of trucks will
    5·1 answer
  • The following information is available for a company's utility cost for operating its machines over the last four months. Month
    6·1 answer
  • translation or specification gaps emerge when you focus too intently on industry standards or internal capabilities that are not
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!