1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kompoz [17]
3 years ago
5

Milano Gallery purchases the copyright on an oil painting for $510,000 on January 1, 2017. The copyright legally protects its ow

ner for 12 more years. The company plans to market and sell prints of the original for 19 years.
Requried:

Prepare entries to record the purchase of the copyright on January 1, 2017, and its annual amortization on December 31, 2017.
Business
1 answer:
Shtirlitz [24]3 years ago
3 0

Answer:

See journal entries below.

Explanation:

The copy right is known as an intangible asset that is purchased to a business hence debited to factor in its purchase value while the bank is credited for the payment for the purchase.

Although the copyright is amortized for 12 years, the copyright protection expires after 12 years - which is the legal year irrespective of its plan to market and sell the painting for 19 years.

• Entries to record to record the purchase of copyrights on January 1, 2017.

Date

January 1,2017

Copyright Dr $510,000

Bank Cr $510,000

(Being purchase of 12 years painting copyrights)

• Annual amortization on December 31, 2017

December 31, 2017

Amortization Dr $42,500

Copyright Cr $42,500

(Being annual amortization cost on 12 years painting copyright)

You might be interested in
Mobile marketing has a unique ability to empower users by connecting with them individually and continuously. This socially netw
Luba_88 [7]

Mobile marketing has a unique ability to empower users by connecting with them individually and continuously. This socially networked world will lead to connected users having more direct interactions with sellers.

What is Mobile marketing?

  • Mobile marketing is a multi-channel online marketing technique focused at reaching a specific audience on their smartphones, feature phones, tablets, or any other related devices through websites, e-mail, SMS and MMS, social media or mobile applications.
  • Mobile marketing can provide customers with time and location sensitive, personalized information that promotes goods, services, appointment reminders and ideas.
  • In a more theoretical manner, academic Andreas Kaplan defines mobile marketing as "any marketing activity conducted through a ubiquitous network to which consumers are constantly connected using a personal mobile device".
  • Mobile marketing may include promotions sent through SMS text messaging, MMS multimedia messaging, through downloaded apps using push notifications, through in-app or in-game marketing, through mobile websites, or by using a mobile device to scan QR codes.
  • Proximity systems and location-based services can alert users based on geographic location or proximity to a service provider.
  • Mobile marketing is an indispensable tool for companies large and small as mobile devices have become ubiquitous.
  • The key players in the space are the brands (and companies that they represent through advertising), and service providers that enable mobile advertising.
  • Mobile advertising targets audiences not so much by demographics but by behaviours.

To learn more about mobile marketing: brainly.com/question/4232483

#SPJ4

7 0
2 years ago
Martha worked for a marketing company with a casual atmosphere and informal culture. The company declared bankruptcy. Martha can
Elis [28]

Answer: Practical intelligence

Explanation: In simple words, practical intelligence refers to the ability of an individual to shape and fit itself according to the demands of the environment.

In the given case, Martha worked with a company  that had a casual and open atmosphere. But after joining employment in a bank she herself understood that different attitude will be needed there to work. She herself adjusted her personality and dressing  as per the demand of the environment.

Hence from the above we can conclude that she is exhibiting practical intelligence.

7 0
4 years ago
Consider the following two mutually exclusive projects: Year Cash Flow (A) Cash Flow (B) 0 –$218,917 –$16,419 1 25,700 5,985 2 5
cluponka [151]

Answer:

I will choose Project B

Payback period of Project A is 4.2 years

Explanation:

IRR shows the percentage rate at which the net present value of the cash flows are zero. The more IRR rate of the project the more beneficial it is.

IRR

Project A = 31%

Project B = 38%

In this Question the IRR of Project B is higher so, it will be more beneficial and I will select it based on IRR ignoring all other factors.

Payback period of Project A is 4.2 years means 4 years, 2 months and 12 days.

5 0
3 years ago
Select the correct answer.
natulia [17]
E
9 + 6 =15
8 0
4 years ago
Read 2 more answers
Golden Eye Co., a hi-tech satellite company, has asked you to value the company for possible cross-listing in the U.S. The compa
EastWind [94]

Answer:

Explanation:

Let's first determine the free cash flow of the firm

Particulars                            Years

                          1                         2                   3

EBIT                  540                   680                750

<u>Tax at 36%    (0.36*540)       (0.36*680)        (0.36*750)    </u>

Less:               345.6                  435.2            480

Net Capital -

Spending            150                   170                 190

<u>Change in NWC    70                    75                  80      </u>

Less:                    125.6              190.2                210

The terminal value at the end of T =(3  years) is:

= \dfrac{Free \ cash \ flow}{unlevered \ cost - expected \ growth  \ rate}

= \dfrac{250}{0.1643-0.04}

= \dfrac{250}{0.1243}

= 2011.26

Finally, the value of the firm can be computed as follows:

Years                  Free Cash Flow        PVIF           PV

1                          125.6                        0.6589        107.88

2                         190.2                        0.7377         140.31

3                          210                           0.6336       133.06

<u>Terminal Value  2011.26                    0.6336        1294.33     </u>

<u>Value of the firm   ⇒                                               $1655.58</u>

5 0
3 years ago
Other questions:
  • According to Thorstein Veblen, a successful businessman would be most likely to demonstrate his worth to others by:_______. a. a
    15·1 answer
  • Barney wants to start a new business that yields a profit of​ 20% per year after a period of 2 years. In this​ period, if he
    12·1 answer
  • Lynn, the manager of a transportation company, goes through the product delivery schedule. She assigns territories to each execu
    6·1 answer
  • You need a particular piece of equipment for your production process. An​ equipment-leasing company has offered to lease the equ
    10·1 answer
  • The workers at State Hospital, a public sector employer, and Acme Inc, a private employer, are subject to speech censorship and
    15·1 answer
  • Zeta Corporation is a manufacturer of sports caps, which require soft fabric. The standards for each cap allow 2.00 yards of sof
    8·1 answer
  • Which mode of transportation typically has the highest value-to-weight ratio? (Food for thought as you answer this question: Thi
    6·1 answer
  • In the state of Florida if you're convicted of reckless driving you'll be assessed how many points
    8·2 answers
  • Ruggles Circuit Company manufactures circuit boards for other firms. Management is attempting to search for ways to reduce manuf
    9·1 answer
  • A U.S. investor has borrowed pounds, converted them to dollars, and invested the dollars in the United States to take advantage
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!