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lisabon 2012 [21]
3 years ago
13

Brick Oven Corporation made the following expenditures during the first month of operations: Attorneys' fees to organize the cor

poration $ 9,000 Purchase of a patent 40,000 Legal and other fees for transfer of the patent 2,500 Advertising 80,000 Total $ 131,500 Required: Record the $131,500 in cash expenditures. (
Business
1 answer:
damaskus [11]3 years ago
5 0

Answer:

The answer is given below;

Explanation:

Legal Expenses  Dr.$9,000

Patent (40,000+2,500) Dr.$42,500

Advertising Expense    Dr.$80,000        

Cash                             Cr.$131,500  

Please note that legal and other fees for transfer of patent is capitalized in patent cost.

The compound entry is made to simplify the T-Account of cash as the second impact of every debit entry is cash.          

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Answer:

37.5%

Explanation:

The percentage change in the price of a jar of peanut butter, using the midpoint method, is:

P_B = \frac{3-2}{\frac{3+2}{2}}*100=40\%

The percentage change in sales of jelly is 15%.

The cross elasticity of demand between peanut butter and jelly is:

E = \frac{15\%}{40\%}*100\%\\E=37.5\%

The cross elasticity of demand is 37.5%

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When the stockholders receive a dividend, how would this affect the equity of a business?.
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Assets and total equity will both be decreased is When the stockholders receive a dividend, how would this affect the equity of a business.

<h3>Who are the stockholder?</h3>

Stockholders are the people who have purchased the stocks and have invested in the particular firm, they are the people. The stockholders hold some of the share of any company, which they can sell or purchase anytime.

Thus, Assets and total equity will both be decreased is When the stockholders

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2 years ago
A 10% rise consumer income results in a 4% decrease in the quantity demanded for pasta. the income elasticity of demand for past
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The income elasticity of demand for pasta is -0.4 based on the data from the question above. The answer to this problem can be solved using the elasticity formula which stated as ED = Q percent change / I percentage change where ED is the elasticity of demand, Q is the quantity of the product, and I is the consumer's income<span>. (Calculation: -4%/10%=-0.4)</span>
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