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Mumz [18]
3 years ago
9

On June 1, 2019, Red Corporation purchased an existing business. With respect to the acquired assets of the business, Red alloca

ted $300,000 of the purchase price to a patent. The patent will expire in 20 years. Determine the total amount that Red may amortize for 2019 for the patent.
Business
1 answer:
algol133 years ago
5 0

Answer:

$11,666.67                

Explanation:

Data given in the question

Allocated purchase price to a patent = $300,000

Patent expiring period = 20 years

According to the section 197 , Legal life of the patent = 15 years

Since the legal life of the patent is 15 years so it would be amortized in 15 years itself

Now the amortization expense is

= $300,000 ÷ 15 years

= $20,000

Now the total amount for 7 months is

= $20,000 ÷ 12 months × 7 months

= $11,666.67

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Answer:

B

Explanation:

It is the correct answer and outsourcing is were another company hires a company to essentially do their job. But done by a different company.

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Your younger sister needs $50 to buy a new bike. she has opened a lemonade stand to make the money she needs. your mother is pay
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Elastic demand means that consumers are sensitive to price and that increased prices can lead to lower sales. There isn't enough information to fully answer this question. We don't know how elastic the demand is. If the demand is only slightly elastic, the increased price and lower demand could still equal higher profits.

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3 years ago
The current sections of Birmingham Inc.’s balance sheets at December 31, 2019 and 2020, are presented here. Birmingham’s net
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Answer:

Net Income 193,000

Non-monetary terms:

Depreciation expense    25,000

amortization expense       10,000

gain on disposal          <u>     (7,000)   </u>

Adjusted Income            221,000

Change in Working Capital:

Increase in A/R        (27,000)

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Increase in Prepaid   (5,000)

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Change In Working Capital     (10,000)

From Operating Activities    211,000

Investing

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Beginning Cash   99,000

Cash Flow           318,000

Ending Cash        417,000

Explanation:

We first remove the non.monetary concetps from the net income.

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4 years ago
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