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Vedmedyk [2.9K]
3 years ago
7

In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain. The purchase price allocat

ion included the following items: $6 million, patent; $4 million, trademark considered to have an indefinite useful life; and $6 million, goodwill. Burger Mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. What is the total amount of amortization expense that would appear in Burger Mania's income statement for the first year ended December 31 related to these items?
Business
1 answer:
ExtremeBDS [4]3 years ago
8 0

Explanation:

Because trademarks have an unlimited effective life of 4 million dollars, the regulation is not valid.

Goodwill and immaterial properties are not amortized but are checked for damage annually for infinite useful lives.

The copyright worth $6 million for five years is the only inviolable thing you can amortize.

The gross amortization cost in relation to these things in the income statement of Burger Mania for the first year ending December 31 would amount to $800,000.

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You are analyzing a company that has cash of $8,800, accounts receivable of $15,800, fixed assets of $87,600, accounts payable o
nikdorinn [45]

Answer:

quick ratio =  0.61  

Explanation:

given data

cash = $8,800

accounts receivable = $15,800

fixed assets = $87,600

accounts payable = $40,300

inventory = $46,900

solution

we get here quick ratio that is express as

quick ratio = (Cash + Accounts receivable) ÷ (Accounts Payable)   .................1

put here value and we get

quick ratio = \frac{8800+15800}{40300}  

quick ratio =  0.61  

so correct option is c. 61

7 0
3 years ago
Pleasant Hills Properties is developing a golf course subdivision that includes 250 home lots; 100 lots are golf course lots and
Goshia [24]

Answer:

The relevant multiple choices are as follows:

$1,920,000.

$720,000.

$1,620,800.

$1,579,200.

$1,080,000.

The correct answer is the third option which is $1,620,800.

Explanation:

Total joint costs=cost of land acquisition+cost of street and utilities improvement

cost of land acquisition=$1,800,000

cost of street and utilities improvement=$1,400,000

total joint costs=$1,800,000+$1,400,000=$3,200,000

sales  value of the golf course lots=100*$95,000=$9,500,000

sales value of street frontage lots=150*$65,000=$ 9,750,000

Total sales value =$9,500,000+$9,750,000=$ 19,250,000

joint costs to street frontage lots=$3,200,000*$9,750,000/$19,250,000.00

                                                     =$ 1,620,779.22  

The closest option is the third option above.

6 0
3 years ago
1. How is providing customer information to a law firm different than providing email addresses and symptoms to a pharmaceutical
Vaselesa [24]

Answer:

How is providing customer information to a law firm different than providing email addresses and symptoms to a pharmaceutical company?

Both are live saving professions, every detailed of their clients must be well documented in order to get the best services as far as life is concerned. A law firm must be sure of every details submitted in order to tackle anything that might affect such clients in court of law while a client must provide a detailed information as regards his/her health in order to get the right prescription for health service

Explanation:

4 0
3 years ago
The federal funds rate A. equals the discount rate. B. only matters to banks and has very little impact on individual consumers.
bixtya [17]

Answer:

D. is the rate that banks charge each other for​ short-term loans of excess reserves.

Explanation:

The federal reserves require banks to maintain a certain amount in their vaults to cater for possible withdraws.  At the close of business every day, banks have to confirm they have the required amount. Should a bank fail to meet the requirement, it can borrow from other banks that have a surplus. The interest rate that banks charge each other for these transactions is the fed fund rate.

The Fed set the fund rate. It may increase or decrease it depending on the prevailing market condition. The banks use the fund rate set to determine the interest rates to be charged on loans and mortgages. A high fund rate means high-interest rates.

8 0
3 years ago
Data that is based on natural language, such as social media posts, comments, e-mail messages and so
konstantin123 [22]
A. Semi Structure Data
8 0
3 years ago
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