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3 years ago

These are selected 2022 transactions for Bramble Corporation:

Business

1 answer:

astraxan [27]3 years ago

8 0

Answer:

Dr amortization expense $14,500

Cr Copyright asset $14,500

Dr amortization expense $6,250

Cr Patent asset $6,250

Explanation:

First of all,a goodwill with an indefinite life is not depreciable,hence no adjusting journal entries would be prepared in respect of the goodwill.

However,the copyright would be amortized using the lower of useful life of 6 years and legal life of 30 years,the amortization expense for the year is shown below:

amortization charge=$87,000/6 years=$14,500

The patent is to amortized in the way as the as the copyright the lower of useful life and legal life.

amortization charge=$30,000/4 years*10/12=$6250

The patent was only used for 10 months in the year

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The following facts apply to the pension plan of Carla Inc. for the year 2020.

Natali5045456 [20]

Solution:

Carla Inc.

Pension Worksheet - 2020

General journal Entries Memo Record

Items Annual pension Cash Pension Projected Plan

expense Asset/liability benefit oblig. assets

Balance, Jan 1 470,900 470,900

Service cost 38,500 38,500

Interest cost 37,672 37,672

Actual return 46,800 46,800

Contributions 24,300 24,300

Benefits 34,700 34,700

Journal entry, 29,372 24,300 5072

Dec 31, 2020

Balance, Dec 31 5072 512,372 507,300

2020

6 0

3 years ago

Suppose that a friend has started a business selling software. The software is a great hit, and the firm quickly grows large en

Jet001 [13]

Answer:

No, we should not buy the stock

Explanation:

The question states that after 55 years, the friend intends to close the company. That implies that after 55 years the value of the purchased share would be $0.

For next 55 years he has promised to pay $9 as a dividend each year.

The share selling price is $124 per share.

To decide whether to buy the share or not, we must first calculate the present value of the dividends to be paid, and then compare that value to the share's selling price and if the present value of the dividends received is greater than the share's sale price then the share will not be purchased.

Dividend per year = $9

Rate of return = 8%

Period = 55 years

Present Value = $9(P/A, 8%, 55)

Present Value = $110.87

The present value of dividends to be received is $110.87

The present value of dividends to be received is less than the selling price of share.

So, we should not buy the stock.

6 0

4 years ago

Following are several figures reported for Allister and Barone as of December 31, 2018: Allister Barone Inventory $500,000 $300,

horrorfan [7]

Answer:

The correct option is C,$795,000

Explanation:

The consolidated inventory of Allister and Barone at year end 31st December is the sum of their individual inventories minus the allowance for unrealized profit on intra-group sales of $180,000

Allowance for unrealized =amount of unsold inventory/total sales*profit on sale

amount of unsold =10%*$180,000=$18,000

total profit on the sale=sales price-cost=$180,000-$130,000=$50,000

allowance for unrealized profit=$18,000/180,000*50,000=$5,000

Consolidated inventory=$500,000+$300,000-$5,000=$795,000

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4 years ago

A security policy is a _____. set of guidelines set of transmission protocols written document set of rules based on standards a

nalin [4]

A security policy is a way to identify and clarify security goals and objectives

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4 years ago

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hammer [34]

The answer is true hope this helps you

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3 years ago

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