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aliya0001 [1]
3 years ago
13

During the current year, Orr Company incurred the following costs: Research and development services performed by Key Corp. for

Orr $ 150,000 Design, construction, and testing of preproduction prototypes and models 200,000 Testing in search for new products or process alternatives 175,000 In its income statement for the current year, what amount should Orr report as research and development expense
Business
1 answer:
LuckyWell [14K]3 years ago
4 0

Answer:

$525,000

Explanation:

The amount to be recognized as research and development expense for the year includes  the cost of research and development services performed by Key Corp. for Orr, the cost incurred on testing of pre-production prototypes and models as well as the cost of testing in search for new products or process alternatives,

In other words, all costs incurred would be expensed since no of them met the capitalization criteria as per  generally acceptable accounting principles

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Engler Company purchases a new delivery truck for $55,000. In addition, the sales taxes are $4,000. Engler also paints on the lo
uysha [10]

Answer:

$61,390

Explanation:

Calculation to determine What does Engler record as the cost of the new truck

Using this formula

Cost of new truck=Purchase price+Sales tax, painting +Logo on the side of the truck +Safety testing +Tune up and oil change

Let plug in the formula

Cost of new truck=$55,000 + $4,000 + $1,600 + $290 +$500

Cost of new truck= $61,390

Therefore what Engler will record as the cost of the new truck is $61,390

6 0
3 years ago
On July 1, 2010, Washington Post paid the par value of $100,000 for 8 percent bonds that mature on June 30, 2015 . Interest at 8
andrey2020 [161]

Answer:

$146.932,81    

Explanation:

You have to calculate the number of years that you have to keep the bond to mature, the answer is 5 years that is the difference between the two dates, now you have to calculate with the interest compound formula the future value of the bond so you have to use the next formula:

Future value = amount of money *((1+ interest rate)^(n))

Where n correspond to the number of years

Note: The interest rate is 8% but is paid each 6 months, it's a reason why you have to multiply n plus 2.

n= 5* 2

n= 10

FV= 100.000*((1+8%)^(10))  

FV = $215.892,50  

According with the information the bond will pay $215.892,50

 

4 0
3 years ago
Offshoring means outsourcing to an international or foreign firm. Group of answer choices True False
BartSMP [9]

Answer:

true

Explanation:

i believe forgive me if wrong

6 0
2 years ago
Read 2 more answers
Four Seasons Hotels sell private residences in several of their properties and send direct mail to prospective residents asking
SVEN [57.7K]

Answer:

lead generation.

Explanation:

Lead generation -

It refers to the process of generating the interest of consumers regarding any goods and services , is referred to as lead generation .

The method is useful in the field of marketing , as it increases the possibility of the consumers buying the product and hence , increases the sale , which in turn is profitable to the company .

The method of lead generation is the part of advertizing or publicizing the goods and services .

Hence , from the given scenario of the question ,

The correct answer is lead generation .

7 0
3 years ago
Which of the following is not a step in the decision-making model? Select one: a. identify alternatives b. determine costs and b
storchak [24]

Answer:

The answer for what is not a step in the decision making model is option E) consider qualitative factors

Explanation:

The steps in decision making model includes the following

  1. defining the problem
  2. collation of data
  3. Identifying the alternatives
  4. determining costs and benefits for both feasible and unfeasible alternatives
  5. total relevant costs and benefits for each alternative
  6. action Plan

Considering qualitative factors is a post decision making action. It happens during the decision analysis phase.

7 0
3 years ago
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