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m_a_m_a [10]
3 years ago
8

Smith & Sons obtained a patent for a new optical scanning device. The fees incurred to file for the patent and to defend the

patent in court against several companies which challenged the patent amounted to $45,000. Smith & Sons concluded that the expected economic life of the patent was 12 years.Calculate the amortization expense that should be recorded in the second year, and record the journal entry for the amortization expense on the books of Smith & Sons. $
Business
1 answer:
Tatiana [17]3 years ago
4 0

Answer:

$3,750                            

Explanation:

Cost of patent             $45,000

Useful Life                       12

Amortization Expense for 2nd year =$3,750 (45,000/12)

Amortization Expense-Patent  Dr.$3,750

Accumulated Amortization-Patent  Cr.$3,750

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Answer:

The correct answer is letter "D": $24.

Explanation:

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In this case, choosing to go to the local carnival will represent losing one hour of working as a coach assistant ($15). Besides, as there is a $9 admission fee to the carnival, you will need to spend that money. Thus, the total opportunity cost of going to the carnival instead of working is $24 (<em>$15+$9=$24</em>).

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3 years ago
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Lawrence and Lorsch developed the contingency theory which involves organizations and changes in the environment. They watch how organizations change and perform based on what is changing around them and then how they adapt to the change. 
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3 years ago
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7 0
3 years ago
The Verizon CEO stated, "Corporate responsibility starts with a belief that what you do is important to society. This belief is
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corporate mission or marketing strategy area

Explanation:

Based on the information provided it can be said that this is an example of the corporate responsibility strategy being a part of the corporate mission or marketing strategy area. This refers to a specific sentence that encompasses the company's function, philosophies and goals which they strive to achieve and is the entire reason for existing in the market.

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