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andre [41]
3 years ago
5

On January 1, 2017, Grand Haven, Inc., reports net assets of $945,300 although equipment (with a four-year remaining life) havin

g a book value of $510,000 is worth $591,500 and an unrecorded patent is valued at $45,000. Van Buren Corporation pays $857,440 on that date to acquire an 80 percent equity ownership in Grand Haven. If the patent has a remaining life of nine years, at what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2018?
Business
1 answer:
borishaifa [10]3 years ago
5 0

Answer:

patent on the consolidated estament: 32,000

Explanation:

45,000 x 80% = 36,000

36,000 / 9 = 4,000 amortization per year

 patent of Grand heaven

<u>      debit           credit        </u>

  36,000 recognize at purchase

                        4,000 december 31th amortization

  32,000 balance.

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Prepare a bank reconciliation as of October 31 from the following information:
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Answer:

              Bank Reconciliation Statement as of October 31

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Balance as per bank          $350      Balance as per books    $806

Add: Late deposit               $433      Less: Returned checks   $80

Less: Outstanding check    $66       Less: Error recordings    $9

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3 years ago
During 20X0, Pard Corp. sold goods to its 80%-owned subsidiary, Seed Corp. At December 31, 20X0, one-half of these good were inc
wolverine [178]

Answer:

The amount to be repot is $1,450,000

Explanation:

in this question, we are asked to calculate the amount of selling expenses to be recorded in the company’s consolidated income statement for that year.

To answer this question, we employ a mathematical approach;

Mathematically;

Selling expenses = Total expenses - Contra Expenses

from the question, we identify that total expenses is (1,100,000 + 400,000) = $1,500,000

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3 years ago
Each currency has a changing value relative to other countries. This is referred to as the country’s blank
alex41 [277]

Each currency has a changing value relative to other currencies. This is referred to as a<u> "currency's exchange rate."</u>


An exchange rate is the rate at which one currency will be exchanged for another, it is additionally viewed as the estimation of one nation's cash in connection to another currency.  

Exchange rates are resolved in the foreign exchange market, which is available to an extensive variety of various sorts of purchasers and venders, and where money exchanging is ceaseless: 24 hours daily aside from ends of the week.

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Your store has average sales of $1,680 per day. Its shrinkage rate is 3%. What will its losses be for an entire year?
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Answer:

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