Answer:
$35,000
Explanation:
Calculation for what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021.
Unrecorded patent is valued at $45,000
Less Amortization for 2 years (9 years remaining life) ($10,000)
(45,000/9 years*2)
Patent reported $35,000
($45,000-$10,000)
Therefore the amount of patent that should be reported on Van Buren's consolidated balance sheet at December 31, 2021 is $35,000
Answer: $439,800
Explanation:
The financing activities of a firm are those that relate to the provision of capital to the business. This will therefore include long term liabilities and Equity transactions including Dividend payments.
The net cash provided (used) by financing activities = Proceeds from issuance of bonds payable (Inflow) - Dividends paid (Outflow)
= 499,900 - 60,100
= $439,800
Answer:
Net Income 5,100
Explanation:
Sales Revenue 150x800 = 120,000
Cost of goods sold 150x600=90,000
Gross Profit 30,000
Rent expense 1900
selling expense 23,000 (120,000 x 15% + 5000)
Tota expenses 24,900
Operation Income 5,100
Under a traditional income statment, the selling expense will be period cost, They will be subtracted form the gross profit entirely.
Answer: $7000
Explanation:
cost of ski boots = $8000
merchandise inventory at the beginning of October = $2000
merchandise inventory at the end of October = $3000
So,
Budgeted cost of goods sold for October = cost of ski boots + inventory at the beginning - inventory at the end
= 8000 + 2000 - 3000
= $7000
∴ The budgeted cost of goods sold for October is $7000.
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