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
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
Some people consistently make great investment decisions. Why?
zloy xaker [14]

The answer is D:both A and B

5 0
3 years ago
GDP excludes the value of goods produced at home. many items are counted twice or more in the intermediate stages of production.
Softa [21]

Answer:

False

Explanation:

GDP or gross domestic product value is a measure of the total value of all products and services produced within the boundaries of a country in a given time. It factors all products, regardless of who manufactures them, whether foreigners or locals, men or women. To avoid double-counting, GDP considers finished products only.

In calculating GDP, economists will deduct the cost of imports. The reason is that imports are produced in foreign countries. The value of GDP indicates whether the economy is expanding or contracting. An increase in GDP shows economic growth in the country. An increase in capital goods, human capital, labor force, technology,  contribute to economic growth.

7 0
3 years ago
Which kind of business organization does not allow for profit sharing?
Nataly_w [17]
The answer is d sole proprietorship
6 0
3 years ago
Based on the following information: Assume that Forrest Company uses the LIFO accounting method. In year X1, Forrest reported th
Andru [333]

Answer:

a. $15,500

Explanation:

Based on LIFO, cost of 1500 unit sold will be entirely from the Purchases (year X1). Therefore, we have:

Value of units purchases (year X1) outstanding after sales = (2,000 - 1,500) * $11 = 500 * $11 = $5,500

Therefore, we have

LIFO Inventory on 12/31/X1 = Value of beginning Inventory (1/1/X1) + $5,500 = $10,000 + $5,500 = $15,500.

8 0
3 years ago
Consider the U.S. market for loanable funds in a closed-economy model. Answer the following questions about each scenario.The go
kompoz [17]

Answer:

supply of loanable funds to the left; increase and decrease respectively.

Explanation:

The increase in the capital gains tax will reduce, the savings as it axes earnings on assets in the stock market. This reduction in savings will cause the supply of loanable funds to decrease.  

This will further cause the supply curve for loanable funds to shift to the left. This leftward shift in the loanable fund's supply curve will cause the interest rate to increase and the equilibrium quantity of loanable funds to decrease.

6 0
3 years ago
Other questions:
  • The development of a nationwide computerized job bank listing of all job openings would be most likely to reduce:
    5·1 answer
  • The specific protection that the insurer provides to the policy holder is known as which of the following?
    7·2 answers
  • Four Seasons Hotels sell private residences in several of their properties and send direct mail to prospective residents asking
    10·1 answer
  • At the beginning of the year, Nothing More, Corp., had a long-term debt balance of $36,554. During the year, the company repaid
    7·1 answer
  • LG, a South Korean electronics company, has four divisions: Home Entertainment, Mobile Communications, Home Appliance & Air
    15·1 answer
  • If you see a large group of stranded passengers standing next to a disabled bus, and you have only three seats in your car, deci
    11·1 answer
  • A company just starting business made the following purchases in August: August 1 300 units $1,560 August 12 400 units 2,340 Aug
    13·2 answers
  • We are trading a large amount of goods with a Thai customer, and the customer is requesting full payment in L/C, as they have be
    14·1 answer
  • Interim financial statements: Multiple Choice Are required by the Congress. Are necessary to achieve full disclosure about a bus
    13·1 answer
  • Jebali Company reports gross income of $340,000 and other property-related expenses of $229,000 and uses a depletion rate of 14%
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!