1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Temka [501]
3 years ago
14

Cullumber purchased a patent from Vania Co. for $1,230,000 on January 1, 2018. The patent is being amortized over its remaining

legal life of 10 years, expiring on January 1, 2028. During 2020, Cullumber determined that the economic benefits of the patent would not last longer than 6 years from the date of acquisition. What amount should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2020
Business
1 answer:
victus00 [196]3 years ago
4 0

Answer: $738,000

Explanation:

The amount they should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2020 goes thus:

The amortization for 2018 and 2019 will be:

= $1,230,000 × 2/10

= $246,000

Then, the carrying value of patent in the beginning of 2020 will be:

= $1,230,000 - $246,000

= $984,000

It should be noted that the remaining life will be:

= 6 years - 2 years

= 4 years

2020 Amortization will then be:

= $984000/4 =

$246000

Accumulated Amortization will be:

= $246,000 + $246,000

= $492,000

Therefore, the amount reported in patents will be as at December 31, 2020 will be:

= $1,230,000 - $492,000

= $738,000

You might be interested in
Elston Company issued $500,000 of eight percent, 20-year bonds at 106 on January 1, 2010. Interest is payable semiannually on Ju
galina1969 [7]

Answer:

Please see attachment

Explanation:

Please see attachment

8 0
3 years ago
Requisitioning an OTC item to use for script fulfillment included
Nina [5.8K]

Requisitioning an OTC item to use for script fulfillment included is scanning the price barcode in the QT exception screen.

For the fulfillment of medication requests corresponding to included medication units, a system and accompanying technique are offered.

A patient care provider may receive decision data from requisition fulfillment logic to aid in choosing one of a variety of fulfillment venues to fill a specific drug demand.

A requisition router may direct the pharmaceutical request to a particular fulfillment site among the many options.

In respect to the related medication requisitions that they have completed, the fulfillment sites may provide medication requisition metadata (such as information about the preparation and handling of medicine units) to a medication requisition database.

Therefore, scanning the price barcode in the QT exception screen. is the answer.

Learn more about Router:

brainly.com/question/14449935

#SPJ1

8 0
2 years ago
A stock will have a loss of 13.6 percent in a recession, a return of 12.3 percent in a normal economy, and a return of 27 percen
SpyIntel [72]

Answer:

Standard deviation =21.34

Explanation:

<em>Standard deviation is measure of the total risks of an investment. It measures the volatility in return of an investment as a result of both systematic and non-systematic risks. Non-systematic risk includes risk that are unique to a company like poor management, legal suit against the company .</em>

<em>Standard deviation is the sum of the squared deviation of the individual return from the mean return under different scenarios</em>

Expected return (r) = (13.6% × 0.33 ) +  (12.3% × 0.36)  + (27%× 0.31)=17.3%

Outcome           R       (R- r )^2           P×(R- r )^2

Recession        13.6       13.6                 4.5

Normal         12.3         24.9                  8.9

Boom           27%        94.4              <u>     29.3 </u>

Total                                                <u>   42.7 </u>

Standard deviation = √42.7 = 21.34

Standard deviation =21.34

3 0
3 years ago
Aquatic Equipment Corporation decided to switch from the LIFO method of costing inventories to the FIFO method at the beginning
yan [13]

Answer:

1. Adjusted net income = Ending inventory higher by amount * (1-Tax rate) = $70,000*(1-34%) = $70,000 * 66% = $46,200

Details                                                                                 Amount

Beginning retained earnings for the year 2017               $880,000

Add:  Adjusted net income                                               <u>$46,200</u>

Beginning adjusted retained earnings for year 2017  <u>$926,200</u>

2. Tax payable = Inventory * Tax rate = $70,000*34% = $23,800

Date   Account Titles and Explanation          Debit          Credit

           Inventory                                            $70,000

                 Retained earnings                                            $46,200

                  Tax payable                                                     $23,800

            (To record adjustment of ending inventory)

6 0
3 years ago
The quantity of money demanded is the Group of answer choices income and volume of profits that people and businesses would like
Ksju [112]

Answer:

The amount that people and businesses choose to hold.

Explanation:

The amount that people and businesses choose to hold.

The total demand for money is the total amount of money that people wants to hold and there are three main reasons for which money is being held. First is transactions related reason, second is the precautionary reason, and third is the speculative reason. The above three reasons push the people to hold the money that becomes the total demand for money.

6 0
2 years ago
Other questions:
  • Lysol sanitizing wipes entered the market at a low sales price and was supported by heavy couponing. As the initial trial period
    9·2 answers
  • A young entrepreneur recently decided to expand his steel business into a small industrial town in Indiana. Which of the followi
    12·1 answer
  • For a note receivable that was created on November 1, 2018 and is due for repayment on October 31, 2019, what is the time fracti
    13·1 answer
  • Company purchased equipment at a cost of $120,000 that has a depreciable cost of $90,000 and an estimated useful life of 3 years
    15·1 answer
  • Yocum Company purchased equipment on January 1 at a list price of $120,000 and received a $2,400 cash discount. Yocum paid $6,00
    12·1 answer
  • A __________ visually shows that the total revenue curve and the total cost curve intersect at a point of zero profit.
    12·1 answer
  • Suppose the government launches a successful advertising campaign that convinces workers with high school degrees to quit their
    5·1 answer
  • Indirect labor includes:_________ (You may select more than one answer. Single click the box with the question mark to produce a
    9·1 answer
  • To accomplish u. s. objectives, the national security strategy guides the coordination of the instruments of national power whic
    9·1 answer
  • When a company uses a service organization to prepare its payroll, the company's auditors?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!