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drek231 [11]
3 years ago
10

Fill in the blanks to complete the passage about the economic implications of technological advances. The U.S. dairy cow industr

y produced milk from just over __________ million cows in 1924. Today, it relies on just under__________ million. And yet total milk production today is a little over __________ what it was in 1924. This is possible because the typical cow produces __________ as much milk, thanks to strategic breeding and changes in how –. twicemilk is transportedfive times20cows’ stalls are constructed10
Business
1 answer:
lisabon 2012 [21]3 years ago
3 0

Answer:

20

10

Twice

Five times

Cow stalls are constructed

Explanation:

The U.S. dairy cow industry produced milk from just over _20_ million cows in 1924. Today, it relies on just under_10_ million. And yet total milk production today is a little over __twice_ what it was in 1924. This is possible because the typical cow produces __five times___ as much milk, thanks to strategic breeding and changes in how _stalls are constructed_.

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Select best example below illustrative of transaction costs.a. All of the above b. The costs of various dinners during which a c
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The correct option is A

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Transaction costs are the whole array of costs associated with selling, buying, transferring goods etc.

Transaction costs can be of different types which are:

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What is a written plan of action, developed prior to executing a mission, which will improve your chances of successful evasion
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The correct answer is "Evasion plan of action"

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3 years ago
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Which resource management task determines the type, quantity, receiving location, and users of resources?
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D - identify Requirements

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3 0
3 years ago
On January 1, 2021, Weaver Corporation purchased a patent for $210,000. The remaining legal life is 20 years, but the company es
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Answer:

Requirement 1. Journal for purchasing Patent:

Jan 01, 2021    Patent Rights (Debit)                    210,000

                                  Cash/Bank (Credit)                            210,000

Requirement 2. Journal for amortization expense for the year ended 31 Dec, 2021:

Dec 31, 2021    Amortization expense - Patent    35,000

                                   Accumulated amortization                 35,000

Requirement 3. Journal for amortization expense for the year ended 31 Dec, 2022:

Dec 31, 2022    Amortization expense - Patent    35,000

                                   Accumulated amortization                 35,000

Requirement 4. Journal for incurring legal fees

Jan 31, 2023     Legal fees                                      30,000

                                    Cash/Bank                                          30,000

Requirement 5. Journal for amortization expense for the year ended 31 Dec, 2023:

Dec 31, 2023    Amortization expense - Patent    35,000

                                   Accumulated amortization                 35,000

Explanation:

Requirement 1.

Since Weaver corporation purchases a patent, it costs the company cash or bank balance. As the patent is a non-current intangible asset, it is a debit. On the other hand, as cash decreases due to the purchase of patent, the cash is a credit. In this journal, an asset (Non-current asset) increases, and another asset (Current asset) decreases. There will be no effect on the total asset.

Requirement 2, 3 and 5. All the calculations will be the same as it is a straight-line method of amortization. Straight-line depreciation (amortization) is a method of expense on an asset over a long period. The expense is the same over the period as the expense is calculated as the total cost divided by the useful number of years. Again, as the patent is an intangible asset; therefore, the asset has to be amortized instead of depreciated.

The amortization expense of patent is = $210,000/6 = $35,000

Since, the company estimates the patent's useful life will be 6 years. Therefore, the amortization expense will be $35,000 for each year.

Requirement 4: Since legal fees is an expense, the company pays for this due to the occurrence of legal issues. The expense decreases the cash; therefore, it is a credit. On the contrary, the legal fees are a debit as it decreases net income. The legal fees, however, does not affect the amortization expense as it is not adding to the cost of the patent.

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