All categories

2 years ago

What are the depleted amounts of tangible assets and intangible assets known as?

Business

1 answer:

Debora [2.8K]2 years ago

3 0

Answer:

Depreciation ; amortization

Explanation:

The tangible assets are those assets who are seen and ever touched. For this type of assets, the depreciation expense should be charged while on the other hand the intangible assets are those assets who are not seen not ever touched so for this type of assets the amortization expense should be charged

Therefore the above should be considered

You might be interested in

On January 1, 20X8, Polo Corporation acquired 75 percent of Stallion Company's voting common stock for $300,000. At the time of

lions [1.4K]

Answer:

Explanation:

Base on the question been given to us, we can solve this using equity method as seen below

Investments in Polo = 300000+0.75*(40000-10000-5000*)

300000+0.75*(25000)

300000+18750

$318,750

Increase in value of Patent $50,000

Economic Life 10

Amortization $5,000

The $ 5000 would be reduced from the net income

6 0

2 years ago

On January 1, 2018, the Cook's Restaurant decides to invest in Lake Topsey bonds. The bonds mature on December 31, 2021, an

charle [14.2K]

Answer and Explanation:

The Journal Entry is shown below:-

Investment in bonds is at face value, no question about discount or premium.

Investment is rendered from the time the bonds mature before 2023. Hence, it is an investment as Working for Profit "Held until maturity"

Jan 1, 2018

Bonds receivables Dr, $140,000

To Cash $140,000

(Being Investment in bonds is recorded)

30 June 2018

Cash Dr, $2,400

To interest income $2,400

(Being six months interest received is recorded)

31 Dec 2018

3. Cash Dr, $2,400

To interest income $2,400

(Being six months interest received is recorded)

Working note:-

Bond Value $140,000

Interest rate 4%

Interest earned half

yearly, effective rate

(4% × 6 ÷ 12) 2%

Half Yearly interest amount

($140,000 × 2%) $2,800

3 0

2 years ago

Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed

Brrunno [24]

Answer:

Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed manufacturing overhead costs $ 266,420 Fixed component of the predetermined overhead rate $ 34.60 per machine-hour Actual level of activity 7,900 machine-hours Standard machine-hours allowed for the actual output 8,200 machine-hours Actual fixed manufacturing overhead costs $ 259,960 The budget variance for February is $6,460 Favorable.

Explanation:

Budgeted fixed manufacturing overhead cost = $266,420.

Actual fixed manufacturing overhead costs = $259,960

The budget variance for February is calculated as below:

Budget Variance = Actual Fixed Manufacturing Overheads - Budgeted Fixed Manufacturing Overheads

Budget Variance =$259,960 - $ 266,420.

Budget Variance = -$6,460

Budget Variance = $6,460 Favorable

7 0

2 years ago

____ refers to experimenting with work first and then deciding on a path instead of doing all the ethical considering up front.

Vlad1618 [11]

The answer to this question is Millenial
Millenials refers to the group of people that enter adulthood in early 21st centuries. This group of people tend to seek work-life balance in choosing their careers, which led many of them to job-hopping from one place to another if they feel that the workplace is not suitable/ideal for their ethical and values.

4 0

2 years ago

Reports how much the company is worth to the owners at the

SashulF [63]

I really want to say income statement

6 0

2 years ago