Answer:
Lesser and fell relative to other currencies
Explanation:
This phenomenon is usually termed "Currency depreciation" a fall in the value of a currency in a floating exchange rate system.
The depreciation in 2016 occurred due to factors such as monetary policy, political instability and high inflation.
Amazon's global revenue was 135.99 billion US dollars in 2016, comparing the foreign exchange value in local currencies at that time will give a lesser value now.
Answer:
General Journal entry:
Account Debit Credit
Amortization expense $6,750
Accumulated Amortization $6,750
(patent)
Explanation:
Given Data:
Price of patent=$38,500
Legal fees=$2,000
legal Life=13 years
useful life=6 years
Required:
Journal Entry
Solution:
Amortization:
For intangible assets, amortization is the decrease in book value over the period of time. However intangible assets have no physical appearance and they do not face any damage like fixed assets but with the passage of time their value decrease.
Calculating amortization expense for one year:
Amortization expense=

General Journal entry:
Account Debit Credit
Amortization expense $6,750
Accumulated Amortization $6,750
(patent)
Answer:
Inventory
Explanation:
Inventory refers to
- The finished products in the warehouse or store that is ready for sale.
- Raw materials used in the production of goods
- Goods that in the production process, also known as work in progress.
Inventory is held with the intention of selling. It is classified as current assets. Income realized from the sale of inventory is revenue to the business.