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Anvisha [2.4K]
2 years ago
7

Sunland Corporation purchased a limited-life intangible asset for $468000 on May 1, 2019. It has a useful life of 10 years. What

total amount of amortization expense should have been recorded on the intangible asset by December 31, 2021
Business
1 answer:
Jobisdone [24]2 years ago
8 0

Answer: $124800

Explanation:

First, we have to calculate the ammortization expense which will be:

= $468000 / 10

= $46800

May 2019 = ($46800 × 8/12)

= $31200

December 2020 = $46800

December 2021 = $46800

Ammortization expense will now be:

= $31200 + $46800 + $46800

= $124800

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(x+7)(x-1) = 0 ^x^2 + 6x - 7 = 0x               7x              -1
Its really easy if you think it this way.

7 0
3 years ago
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Which marketing orientation states that consumers will favor products that offer the most in​ quality, performance, and innovati
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Product concept is the marketing orientation states that consumers will favor products that offer the most in​ quality, performance, and innovative​ features.  Consumers are always looking for products that are high qualiy but aren't outragious in pricing or difficulty. When products better fit consumers needs at a price they can afford, it makes them more likely to spend the money and refer people to the products.

4 0
3 years ago
Which of the following individuals are required to pay taxes to fund Social Security and Medicare?
Xelga [282]

Answer:

Correct option is (D)

Explanation:

Employees, employers and self employed are supposed to contribute to fund social security and medicare.

Contribution made by each party comes under different categories. Employees contribute to social security and medicare in the the form of FICA taxes which could be withheld by the employers. Employees pay 50 percent and the remaining 50 percent is paid by the employer.

Self employed contribute in the form of self employed taxes.

4 0
2 years ago
On April 23, Mrs. Y purchased a taxi business from Mr. M for a $60,000 lump-sum price. The business consisted of a two-year-old
vladimir2022 [97]

Answer:

Follows are the solution to the given points:

Explanation:

In point a:

It must allocate \$19000 for both the taxicab and \$41,000 for the rest of the license, the client list, and the company name registered.

Its cost of intangible material could be amortized for 180 months starting in April. (\frac{41,000}{180}) \times 9\ \ months = \$2,050 is her amortization deduction.

She could also use Section 179 to decrease her taxable money to \$17,890 (\$36,890 - \$19,000) but include her deduction.

Her taxable annual income is \$15,840 (\$17,890 - \$2,050).

In point b:

They must allocate \$19,000 for the taxi and\$41,000 for their licenses, the customer list as well as the business by interacting with people register. Its cost of the material could be depreciated for 180 months, starting in April.

(\frac{41,000}{180}) \times 9\ \ months = \$2,050  is her amortization deduction.

The taxable income here = \$0 (from \  \$17,100 -\$19,000) = -1,900.

Section 179 could be requested if another income is earned on the tax return (such as W-2 wages).

As all Section 179 is unpaid with other earned income, it is carried forward into the next year.

3 0
3 years ago
20% of students in a class go to professor during office hours. of those who go 30% seek minor clarification. 70% seek major cla
aksik [14]

a. The probability that a student goes to seek for minor clarification from the professor during office hours = 6%.

b. The probability that a student goes to the professor for major clarification = 14%.

Data and Calculations:

Percentage of students in the class who go to the professor to seek clarifications = 20% (a)

Percentage of students in the class who do not go to the professor to seek clarifications = 80% (100% - 20%) (b)

Percentage of (a) who seek minor clarification = 30%

Percentage of (a) who seek major clarification = 70%

Probability of (a) seeking minor clarification = 6% (20% x 30%)

Probability of (a) seeking major clarification = 14% (20% x 70%)

Thus, the probability of students seeking minor clarification is 6% while the probability of students seeking major clarification is 14%.

Learn more about probability at brainly.com/question/13604758

8 0
2 years ago
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