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Aloiza [94]
3 years ago
8

On January 1, 2020, Grand Haven, Inc., reports net assets of $880,250 although equipment (with a four-year remaining life) havin

g a book value of $449,000 is worth $521,250 and an unrecorded patent is valued at $46,350. Van Buren Corporation pays $799,080 on that date to acquire an 80 percent equity ownership in Grand Haven. If the patent has a remaining life of nine years, at what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021
Business
1 answer:
goldfiish [28.3K]3 years ago
6 0

Answer:

$46,350

Explanation:

The Patent is Acquired at the Fair Value at the Acquisition date. They are recognized in consolidated financial statement even when not recorded by the subsidiary for consolidation purposes.

Thus, the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021 is $46,350.

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Universal container sales reps can modify fields on an opportunity until it is closed. Only the sales operations team can modify
Illusion [34]

Answer:

A. Use field-level security on page layouts to restrict editing fields Explanation:

By restricting the field security and access, no undesired changes and editing will occur, in fact people doing false editing will think before doing so, as when there will be field security on editing only the authorized sales person will do so, and not any person in the sales team would think to do so.

Therefore, the modification will only be possible for and when there is actual need and by dignified and authorized personnel.

3 0
3 years ago
Why do we need for the Department of Homeland Security.
Misha Larkins [42]

Answer:

Protection for the USA against threats domestic and international.

Explanation:

The Department of Homeland Security seeks to protect the nation from many threats. Cybersecurity has been their largest target, but have also investigated terrorism threats and enforcing laws on immigration.

7 0
2 years ago
Billed a customer 4500 for work completed to date log as what on t-account
anygoal [31]

Answer:

On t-account, it will be logged as Accounts Receivable $4,500 and Service Revenue $4,500.

Explanation:

a) Data and Analysis:

Accounts Receivable $4,500 Service Revenue $4,500

b) The company's assets have been increased by $4,500, and its Equity has been increased by $4,500 (through Service Revenue in Retained Earnings).  When the customer pays for the work completed, the Cash account will be debited and the Accounts Receivable credited.

5 0
2 years ago
4-8 A manufacturing firm spends $350,000 annually for a required safety inspection program. A new monitoring technology would el
hichkok12 [17]

Answer:

$3,436,351.59

Explanation:

The computation of the amount that could be afforded to spend is shown below:

= Amount × (P/A, 8%, 20 years)

= $350,000 × 9.8181

= $3,436,351.59

We simply applied the above formula so that the correct value could come

And, the same is relevant too

7 0
3 years ago
Expected direct materials purchases in Metlock Company are $204000 in the first quarter and $264000 in the second quarter. 35 pe
Nataliya [291]

Answer:

The budgeted cash payments for the second quarter are $225000

Explanation:

The cash payments in the second quarter will comprise of cash purchases for the second quarter which are 35% of purchases for the second quarter along with 65% of payments due for purchases of the first quarter.

The cash payment budgetedn for the second quarter is,

Cash payment = 0.35 * 264000 + 0.65 * 204000  = $225000

6 0
3 years ago
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