<span>Purchased the patent for $170,000 in the beginning of 2011.Expected useful life is 10 years.Has a legal life of 17 years.Amortization expense = Cost/estimated useful life = $170,000/10 years = $17,000 per yea</span>
Answer:
I have attached an Excel Sheet that identifies all the events that need to be accounted for. If you have any queries regarding the Journal Entries, please free to ask me that.
B) The Balance of Accounts Receivable at Year End is $3,000.
Explanation:
Hardy Merchandising Company made Sales of $27,000 on account, out of which $24,000 were collected during the year. So, at the year end the Balance Sheet will show a figure of $3,000 for Accounts Receivable.
Thank You!
Answer:
ROI = 0.4
Explanation:
To find the answer, we use the following formula:
Return on Investment = Profit / Investment
Now, we simply plug the amounts into the formula:
Return on Investment = $720,000 / $1,800,000
= 0.4
Answer:
Total $46,319.9565
Explanation:
We need to calculate the value of the present value of the bond payment
and the maturity using the current market rate
C 2500 (50,000 x 0.10/2)
time 10 (5 years 2 payment per year)
rate 0.06 (12% annual --> divide by 2 to convert semiannual)
PV $18,400.2176
Maturity 50000
time 10
rate 0.06
PV $27,919.7388
PV bond interest payment $18,400.2176
PV maturity payment $27,919.7388
Total $46,319.9565