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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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James A. Garfield a. was elected president with a commanding popular-vote margin. b. had been nominated by the Republicans becau

natita [175]

Answer:

c. was assassinated by an unsuccessful office seeker

Explanation:

James A. Garfield was the 20th president of USA and he was the first sitting member of congress to be elected as the president of the nation. His service was short lived only for six and a half months until his death by assassination.

He was shot dead by Charles J. Guiteau at the Baltimore and Potomac Railroad Station in Washington, D.C. and died in Elberon, New Jersey. Guiteau's motive was avenge against Garfield for an imagined political debt.

Hence the correct option is c. was assassinated by an unsuccessful office seeker.

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3 years ago

B. What the impact on XYZ's accounting equation in Maywhen it recorded the transaction as a debit to consultant expense for $10,

JulijaS [17]

Answer:

The above entry would decrease stockholders' equity by $10,000 and increase the liabilities by $10,000.

Explanation:

Consultation expense is an expense and when the expense gets debited, it refers to expense being incurred which in turn decreases stockholders' equity. Accounts payable is a liability and crediting accounts payable increases the liability.

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3 years ago

2. “An American woman executive is sent to negotiate a contract with a corporation in Saudi Arabia. She dresses conservatively i

Tpy6a [65]

Answer:

1. The mistakes she made include:

1. Dressing like a male when it was expected that she should dress like a female.

2. Not wearing a feminine cloth but rather a suit.

3. She wearing a makeup.

4. She fixing her hear but not covering it with hijab.

b. She could have done the following to fix it:

1. Making researches on how best to dress when in Saudi Arabia.

2. Wearing a long covering cloth.

3. Covering her hair with Hijab despite not been from their culture and country.

Explanation:

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3 years ago

Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company reported the following: 20Y9

deff fn [24]

Answer:

The workings are done below;

Explanation:

20Y8 20Y9

a.Accounts Receivable Turnover *11.8 **13.4

(Net Sales/Average Receivables)

*(6,726,000/((600,000+540,000)/2)

**(7,906,000/((580,000+600,000)/2)

b. Days' sales in receivables ***30.9 ****27

(Average Receivables/Net Sales)*365

***(((600,000+540,000)/2)/6,726,000)*365

****(((580,000+600,000)/2)/7,906,000)*365

c. The 20Y9 accounts receivable turnover ratio and days' sales in receivables are better as compared to 20Y8 because it takes 27days in 20Y9 as compared to 30 days in 20Y8.Both ratios of 20Y9 are lower than 20Y8

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3 years ago

prepare the horizontal model for each of the following transactions. a. to record the payment on july 1, assuming that all $27,0

Lyrx [107]

As a supervision to the bookkeeper, it is advised that the payment be initially recorded as a debit to Prepaid rent. Rent is paid at the start of the relevant quarter, hence this is the correct accounting technique. Because it resembles an advance payment, it needs to be recognized as an asset when the payment is made. The portion of the rent that has expired each month should be included to the rent expense.

<h3>Is Prepaid rent A current liabilities?</h3>

Simply said, prepaid rent is shown under current assets on the balance sheet since it is common for businesses to pay the rent in advance and to use it within a short period of time after payment, typically during the same financial period.

Rent that has been paid in advance can be used to offset future rent expenses, making it an asset.

To learn more about Prepaid rent, visit:

brainly.com/question/15212195

#SPJ4

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2 years ago