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Sedaia [141]
3 years ago
5

Golden Company has a binding commitment from another company to purchase its copyright at the end of the asset's useful life. Th

e agreed upon amount is $150,000. When calculating copyright amortization, Golden Company should utilize a residual value of
Business
1 answer:
Pepsi [2]3 years ago
6 0

Answer:

$150,000

Explanation:

Given an intangible asset like a copyright, it is amortized using the straight-line method, thus, to determine the amount of amortization in a given year, the formula is to divide the copyright's value by the length of its useful life.

However, in this case, since the Golden Company has a binding commitment from another company to purchase its copyright AT THE END of the asset's USEFUL LIFE, then, the value of the copyright equals zero.

What this simply means is that, when calculating copyright amortization, Golden Company should utilize a residual value of $150,000, because the value of the copyright at that moment equals zero.

You might be interested in
Which goal is an example of a measurable goal
k0ka [10]
That you identify exactly what it is you will see, hear and feel when you reach your goal. It means breaking your goal down into measurable elements. You'll need concrete evidence.
8 0
3 years ago
Read 2 more answers
When a local walmart is open 7 days a​ week, 24 hours a​ day, which form of utility is it providing to​ customers?
Vladimir [108]
Answer: TIME UTILITY

When a local Walmart is open 7 days a week, 24 hours a day, it is providing the customers with time utility. Economic utility includes Form utility, Time utility, Place utility and Possession utility. Time utility refers to the availability of products when the customer needs them. In this utility, the company chooses the hours and days when products and services are available to the customers according to the needs of the customers.
6 0
3 years ago
Suppose that Cheryl's only assets are an automobile worth $10,000 and a checking account with a $5,000 balance. Her only liabili
melamori03 [73]

Answer:

Cheryl's net worth is;

c). $5,000

Explanation:

The net worth is the value of an individual taking into account all the individual's assets and liabilities. It is a holistic view on the value of an individual. It is also used to estimate the value of a company, corporation and even countries. It is one of the standard measures used to gauge an entity's wealth. The net worth can be calculated by taking the difference between assets and liabilities. An asset is anything of economic value that is owned by an entity while a liability is anything of economic value that is owed.

The following formula can be used to estimate Cheryl's net worth;

N=A-L

where;

N=net worth

A=assets

L=liabilities

In our case;

N=unknown to be determine

A=Automobile+checking account

Automobile=$10,000 and checking account=$5,000

A=10,000+5,000=$15,000

L=student loan+car loan

student loan=$2,000

car loan=$8,000

L=2,000+8,000=$10,000

replacing;

N=15,000-10,000=$5,000

Cheryl's net worth=$5,000

4 0
3 years ago
Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,500. Budgeted cash receip
mel-nik [20]

Answer:

$15,500

Explanation:

Whenever there is a movement in cash over a given period, it is usually as a result of receipts and disbursement over the period and can be denoted as;

Opening balance + Receipts - Disbursements = Closing balance.

However, if the company intends to maintain closing balance, the amount to be borrowed would form part of the receipts.

$18,500 + receipts - $189,000 = $30,500

Receipts = $30,500 + $189,000 - $18,500

Receipts = $201,000

Given budgeted cash receipts, totalled $185,500, then amount to borrow

= $201,000 - $185,500

= $15,500

7 0
3 years ago
It costs a company $35,000 to produce 500 graphing calculators. The company’s cost will be $35,080 if it produces an additional
kozerog [31]

Answer:

Marginal cost is greater than its average cost.

Explanation:

Given that,

Cost of producing 500 graphing calculators =  $35,000

Cost of producing 501 graphing calculators =$35,080

Therefore,

The marginal cost = Cost of 501 graphing calculator - Cost of 500 graphing calculator

                              = $35,080 - $35,000

                              = $80

Average cost:

= $35,000 ÷ 500

= $70

Therefore, the marginal cost is greater than its average cost.

4 0
3 years ago
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