Answer:
April 1
Debit : Patent $1,500,000
Credit : Cash $1,500,000
December 31
Debit : Amortization $125,000
Credit : Accumulated Amortization $125,000
December 31
Debit : Impairment loss $6,000,000
Credit : Accumulated Impairment loss $6,000,000
Explanation:
Both the Amortization and Impairment loss reduce the value of assets. They are therefore expenses accounted in Income Statement.
Amortization : is the loss of value of an asset due to passage of time.
Amortization Expense = (Cost - Residual Amount) ÷ Useful Life
= ( $1,500,000 - $ 0) ÷ 12
= $125,000
Impairment loss : is the excess of the Carrying Amount of an Asset over its Recoverable Amount( Higher of Value in Use and Fair Value less Cost to Sell)
Answer:
C
Explanation:
A. If there is a decrease in the price of a substitute good then people will prefer that good because is cheaper than, in this case, antibacterial soap. This will cause a change in demand, because consumers decide to buy less antibacterial soap.
B. The campaign will affect consumers because now there would be less people interested on buying the antibacterial soap. This will cause a change in demand.
C. An increase in the cost of plastic bottles used for antibacterial soap will affect directly to producers because now the total cost of production will increase and for instance they will produce less. This will cause a change in supply
Note: The question should be:
....................... means gathering information about your career choices and weighing the pros and cons of the career.
Answer:
Career Decision making
Explanation:
Career Decision making allows you to research about your career choices and make guided and objective decisions. Before making a choice, one has to consider the benefits and the negatives associated with such career.
Before making such an intricate decision, one has to seek for career advice from career counsellors and experts in that career field.
Answer:
Conversion Cost Equivalent units FIFO 39, 125
Explanation:
Beginning WIP 5,000 30% completed
transferred units 39,500
ending WIP 4,500 25% completed
<u>The equivalent units will be:</u>
the transferred units
- complete portion for the beginning WIP
+ complete portion of the ending WIP
transferred out 39,500
work in previous period
5,000 x 30% = (1,500)
worked but not complete
4,500 x 25% = <u> 1, 125 </u>
Equivalent units FIFO 39, 125
Answer:
It is likely I sold 500 shares between $40 and $42 per share
Explanation:
Given that:
No of Shares owned = 500 Shares
Current Price per share = $50
Stop limit order price per share = $40
Thus, note that, Stop Limit order is a type of order that specify, the maximum amount at which an individual is willing to buy a stock i.e stop limit buy order or the minimum amount at which individual is willing to sell a stock i.e stop limit sell order.
Therefore, as I have placed a Stop limit sell price at $40, this implies that minimum price for the sale of share is fixed at $40, hence, if the selling price falls to $30, sale will not be executed.
However, Sale will be executed at $40 or more. Therefore, as the share price rose to $42 per share, it is likely I sold my share between $40 and $42
Hence, It is likely i sold 500 shares between $40 and $42 per share