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3 years ago

PLEASE HELP! Question: Give an example of a Trademark in Business.

1 answer:

6 0

Any word, name, symbol, or device; any combination thereof adopted and used by a manufacturer or merchant to identify his goods and distinguish them from those manufactured or sold by others

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DeLong Corporation was organized on January 1, 2017. It is authorized to issue 14,500 shares of 8%, $100 par value preferred sto

DanielleElmas [232]

Answer:

Jan. 10

Cash $507,00 (debit)

Common Stock $507,00 (credit)

Mar 1

Cash $566,500 (debit)

Preferred Sock $515,000 (credit)

Share Premium : Preferred Stock $51,500 (credit)

April 1

Land $91,000 (debit)

Common Stock $91,000 (credit)

May 1

Cash $420,000 (debit)

Common Stock $420,000 (credit)

Aug 1

Legal Expenses : Attorneys bill $39,500 (debit)

Common Stock $39,500 (credit)

Sept 1

Cash $80,500 (debit)

Common Stock $80,500 (credit)

Nov 1

Cash $222,000 (debit)

Preferred Sock $200,000 (credit)

Share Premium : Preferred Stock $22,000 (credit)

Explanation:

Common Stocks are at no par value:

This means that ,

1.When Common Stocks are Issued, the value is the issue price there is no share premium reserve on it.

2. For consideration paid in Common Stocks, value of stocks would be the same as the cost at initial recognition. For example the Purchase of Land on April 1. Initial recognition is at Asking Price of $91,000. Hence common stocks are issued at $91,000.

Preference Stocks are at $100 par

This means that,

1.Any issue of Preference Stock made in excess of par value is accounted in the Preference Share Premium Reserve.

5 0

3 years ago

A company is doing business with a German entity and, as a result, has entered into a forward exchange contract on December 18,

elena-14-01-66 [18.8K]

Answer:

$18,000 gain

Explanation:

Calculation for the amount of foreign currency gain or loss that should be recognized in income on December 31, year 2

Since Forward rate was given as:

December 18, year 2 $1.25

December 31, year 2 $1.31

Which means we have to Deduct the forward rate of December 18, year 2 which is $1.25 from the forward rate of December 31, year 2 which is $1.31 and then multiply it by the amount in which forward rate was purchased which is 300,000 Euro which will in turn give us the amount of foreign currency gain that should be recognized in income on December 31, year 2

Now let calculate

Forward rate December 18, year 2 $1.25

Less Forward rate December 31, year 2 $1.31

=$0.06 gain per Euro

Now let calculate for the amount of foreign currency gain that should be recognized in income on December 31, year 2

Hence,

Forward rate purchased amount 300,000 Euro ×$0.06 gain per Euro

=$18,000 gain

Therefore the amount of foreign currency gain that should be recognized in income on December 31, year 2 will be $18,000 gain.

6 0

3 years ago

Newberry, Inc., whose reporting currency is the U.S. dollar ($), has a subsidiary in Argentina, whose functional currency also i

Mnenie [13.5K]

Answer:

1. $46,000

2.$46,000

Explanation:

According to the scenario, computation of the given data are as follows,

Inventory price = 230,000 pesos

1. Consolidated balance sheet amount = Inventory price × Rate on November 1, 2017

= 230,000 × $0.20

= $46,000

2. Consolidated statement cost of goods sold for the year ending December 31, 2018 = Inventory price × Rate on November 1, 2017

= 230,000 × $0.20

= $46,000

3 0

3 years ago

An engineer at 3M Company developed a new product concept called Post-It notes by applying adhesive glue to small pieces of pape

Korvikt [17]

Answer: Invention

Explanation: An invention is the creative ability of an individual to make something that has not been made before.

It is also a process of creating an item, service or something that has not been seen or used before.

The Engineer at 3M made a new product concept called Post-It notes by applying adhesive glue to small pieces of paper is a new invention.

8 0

3 years ago

The manager of the main laboratory facility at CapitalHealth Center is interested in being able to predict the overhead costs ea

adelina 88 [10]

Answer:

Total cost= $26,668

Explanation:

Giving the following information:

Highest cost= $31,400

Lowest cost= $14,500

Highest activity= 3,700

Lowest activity= 1,200

To calculate the variable and fixed costs, we need to use the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (31,400 - 14,500) / (3,700 - 1,200)

Variable cost per unit= $6.76

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 31,400 - (6.76*3,700)

Fixed costs= $6,388

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 14,500 - (6.76*1,200)

Fixed costs= $6,388

Now, for 3,000 tests:

Total cost= 6,388 + 6.76*3,000

Total cost= $26,668

7 0

2 years ago