Answer:
Grab some paper and wrap it around unchewed gum and do that for the amount of gum you want, Then put it in a small box.
no because what if the other person started it you wont know who started it unless the confess the person that starteed it should be fined
Answer:
a. Particulars Amount
Patent cost $400,000
Less: Amortization for 3 years <u>$150,000 </u> ($400,000*3/8)
Book value at the end of year 3 $250,000
Addition during Year 4 <u>$20,000 </u>
Total book value <u>$270,000</u>
Patent amortization expense for the Year 4 = Total book value / Remaining life
Patent amortization expense for the Year 4 = $270,000 / 5
Patent amortization expense for the Year 4 = $54,000
b. Adjusting Entry
Date Account titles Debit Credit
Amortization expense $54,000
Patents $54,000
Answer:
Dr Cash $1,100
Cr Notes receivable $1000
Cr Interest revenue $100
Explanation:
The $1,100 receipt of cash from C.Mate comprises of $1000 principal and $100 interest revenue,the $1000 should be credited to notes receivable since it is a reduction in asset and $100 credited to interest revenue as an increase in income.
The debit would be to cash account as an increase in cash and cash equivalents in the balance sheet of Android Products Inc,under the current assets section.
