Answer:
$714,000
Explanation:
Amortization is the systematic allocation of the cost of an intangible asset to the income statement. While depreciation happens to a tangible asset, amortization happens to an intangible asset such as patent, trademark etc.
Mathematically,
Amortization
= Cost of asset / estimated useful life
= $1,190,000/10
= $119,000
At the start of 2020,
Carrying amount of patent
= $1,190,000 - 2($119,000)
= $952,000
Annual amortization from then, given that economic benefits of the patent would not last longer than 6 years from the date of acquisition (hence 4 years remaining)
= $952,000/4
= $238,000
Carrying amount reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2020
= $952,000 - $238,000
= $714,000
Answer:
1.5 years
Explanation:
The number of years for reaching the target value, it will be computed using the excel formula which is as:
=Nper(Rate,pmt,pv,fv,type)
where
nper is number of years
rate is 33%
Pmt is monthly payment which is $0
pv is present value which is -$11,000
fv is future value which is $17,200
type is 0
So, putting the values above:
=Nper(33%,0,-11000,17200,0)
=1.5 years
Therefore, the number of years it will take to reach the amount of $17,200 from investing $11,000 today is 1.5 years.
With the assessed value of $64,120, and tax rate of 3.2%, the annual tax bill the Smith's expect to pay is $2,051.84.
<h3><u>
What is tax?</u></h3>
- Taxes are compulsory payments made by a government organization, whether local, regional, or federal, to people or businesses.
- Tax revenues are used to fund a variety of government initiatives, such as Social Security and Medicare as well as public infrastructure and services like roads and schools.
- Taxes are borne by whoever bears the cost of the tax in economics, whether this is the entity being taxed, such as a business, or the final users of the items produced by the business.
Taxes should be taken into consideration from an accounting standpoint, including payroll taxes, federal and state income taxes, and sales taxes.
Simply multiplying the value and rate, we get the annual tax as $2,051.84.
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Answer:
a) 115 students
b) 110 students
Explanation:
Let x represent the total number of students.
56% examines failed in Science, hence 0.56 examines failed in Science. 54% examines failed in Nepali hence 0.54x examines failed in Nepali. 25 students fail in both the subject and none passed in both subjects, hence:
(0.54x - 25) + (0.56x - 25) + 25 = x
0.54x + 0.56x -x = 25 + 25 - 25
0.1x = 25
x = 250 students
a) The number of examines who failed in Science only = 0.56x - 25 = (0.56 * 250) - 25 = 115
b) The number of examines who failed in Nepali only = 0.54x - 25 = (0.54 * 250) - 25 = 110
By the middle of the eighteenth century, soil depletion and deforestation was now a threat to the economic and social development of some countries in Western Europe and Asia.
What is the primary reason for the soil's depletion?
Farming, industrial, and commercial pollution, loss of arable land owing to urbanization, overgrazing, and unsustainable agricultural methods, and long-term climate changes are all factors that contribute to soil degradation.
What and why did Europe lose its forests?
Industrial farming
Europe's deforestation started in the 1700s and 1800s when trees were felled for shipbuilding and as fuel.
The primary cause of forest loss is the conversion of forests into crops. It is primarily responsible for oil palm and soybean production, which, according to the UN Food and Agriculture Organization, accounts for at least 50% global deforestation .About 40% of the world's deforestation is caused by livestock grazing.
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