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uysha [10]
3 years ago
8

On January 2, 2013, Gant Co. purchased a franchise with a useful life of five years for $60,000 and an annual fee of 1% of franc

hise revenues. Franchise revenues were $20,000 during 2013. Gant projects future revenues of $40,000 in 2014 and $60,000 per year for the following three years. Gant uses the straight-line method of amortization. What amount should Gant report as intangible asset-franchise, net of related amortization in its December 31, 2013, balance sheet
Business
1 answer:
inysia [295]3 years ago
6 0

Answer:

$48,000

Explanation:

The computation of the amount that should be reported as the intangible asset franchise is shown below

= Purchase value of franchise - amortization per year

= $60,000 - ($60,000 ÷ 5 years)

= $60,000 - $12,000

= $48,000

hence, the  amount that should be reported as the intangible asset franchise is $48,000

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The following information to perform the calculations below (using the indirect method).
Liono4ka [1.6K]

Answer: -$556,000

Explanation:

Based on the information given in the question, the the amount of cash used by investing activities would be calculated as:

Purchase of long-term assets -612,000

Add: Sale of long-term investment at cost 56,000

The amount of cash used by investing activities would now be:

= -$612,000 + $56,000

= -$556,000

7 0
3 years ago
Karen is buying a new laptop. She is looking for a light-weight computer. The laptop she purchases is a little heavier than she
Ipatiy [6.2K]

Karen is buying a new laptop. She is looking for a light-weight computer. The laptop she purchases is a little heavier than she had originally hoped, but she was willing to accept the extra weight for a computer with a bigger, clearer screen.

Karen made her purchase decision using a compensatory decision rule.

In psychology, compensation is a approach whereby one covers up, consciously or unconsciously, weaknesses, frustrations, goals, or feelings of inadequacy or incompetence in a single life area thru the gratification or (drive toward) excellence in some other area. compensation can cowl up both real or imagined deficiencies and personal or bodily inferiority. fantastic compensations may additionally help one to conquer one's problems. then again, bad compensations do not, which ends up in a strengthened feeling of inferiority.

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8 0
1 year ago
The _______ transport of auxin establishes the orientation of growth; the _______ redistribution of auxin causes a growth respon
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This is the complete sentence: the polar transport of auxin establishes the orientation of growth, the lateral redistribution of auxin causes a growth response to an enviromental stimulus  that is called morphogenesis.<span />
5 0
3 years ago
Which of the following is an example of a price floor​? A. Safeway charges​ $1 more than Fred Meyer charges for a 5 pound bag of
Snowcat [4.5K]

Answer:

C. The government guarantees that potato farmers will receive at least​ $50 a ton.

Explanation:

Price floor is implemented by the government or a group where price control is imposed or limit is placed on how low a price a product can be sold.

For price floor to be effective it must be higher than the equillibrum price.

Equillibrum price is the price at which quantity consumers are willing to pay for is equal to quantity suppliers re willing to sell.

Price floors are usually used to keep commodity prices from going too low.

So if the government guarantees farmers will receive at least $50 per ton of potato, they are setting a price floor of $50.

4 0
2 years ago
Expatriates who are citizens of neither an employer's parent country nor the foreign nation where they are residing and working
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An expatriate who is a citizen of his employer's home country and lives and works in another country is called a _____. citizens of the homeland.

Workers preparing for international assignments need information about practical issues such as housing, schooling and shopping in their future country of residence. What cross-cultural preparation is most valuable before leaving for an international assignment? Language lessons.

The most important remuneration items for expatriates are basic salary, cost of living adjustment, housing allowance, home leave, education allowance for dependents and insurance payment.

Host Country is any country other than the home country in which an organization operates facilities. An expatriate is an employee from a country other than the home country or host country.

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7 0
1 year ago
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