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viktelen [127]
2 years ago
14

Identify the following as a fixed asset (FA), or intangible asset (IA), natural resource (NR), or none of these (N). a. Computer

b. Patent c. Oil reserve d. Goodwill e. U. S. Treasury note f. Land used for employee parking g. Gold mine
Business
1 answer:
julsineya [31]2 years ago
5 0

Answer:

a. Computer - fixed asset

b. Patent - intangible asset

c. Oil reserve - natural resource

d. Goodwill - intangible asset

e. U. S. Treasury note - none of these (N)

f. Land used for employee parking - fixed asset

g. Gold mine - natural resource

Explanation:

Intangible assets are the assets of a company that cannot be seen or they are not physical in nature. They are usually difficult to evaluate. They include:

  1. Goodwill
  2. Patent
  3. Trademarks
  4. copyrights

a fixed asset is a long term tangible piece of property or equipment that a company has and uses it to generate income. they include plant, property and equipment.

A natural resource is a substance that occurs in nature that can be used to generate economic profit.

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On January 1, Year 1, Barrett, Inc., purchased equipment and signed a note agreeing to pay $100,000 on December 31, Year 3. The
Afina-wow [57]

Answer:

$75,131

Explanation:

The computation of the amount of note payable credited is shown below:

Notes payable is

= Agreed amount to pay × present value factor at 10% for 3 years

= $100,000 ×  0.75131

= $75,131

By multiplying the agreed amount to pay with the present value factor at 10% for 3 years we can get the amount credited to the note payable

3 0
3 years ago
Identify which of the following statements are true for the corporate form of organization. 1. Ownership rights cannot be easily
Nat2105 [25]

Answer:

1.Owners are not agents of the corporation- True Managers and directors are the agents of the owners of the corporation. What owners do is not always on behalf of the corporation.

2. It is a separate legal entity.- True Corporate enjoy separate existence. Their assets and liabilities are different from that of their owners.

3. It has a limited life.- False Corporations have unlimite life. They continue to function even after the death of their owners.

4. Capital is more easily accumulated than with most other forms of organization.- True If a corporation needs capital, it cal raise money by issuing shares in the open market. People invest if the prospects are good and the company can gather more funds whenever required. It is also easier for a corporation to acquire loans.

5. Corporate income that is distributed to shareholders is usually taxed twice- True First the Income of the company is taxed which in a way..

6 0
3 years ago
Read 2 more answers
Selected current year company information follows: Net income $ 16,753 Net sales 720,855 Total liabilities, beginning-year 91,93
a_sh-v [17]

Answer:

the total asset turnover is 2.65 times

Explanation:

The computation of the  total asset turnover is shown below;

As we know that

Total assets turnover is

= Net sales ÷ average of total assets

= $720,855 ÷ ($91,932 + $206,935 + $111,201 + $133,851) ÷ 2

= $720,855 ÷ $271,959.50

= 2.65 times

Hence, the total asset turnover is 2.65 times

7 0
3 years ago
On January 1, Wei company begins the accounting period with a $40,000 credit balance in Allowance for Doubtful Accounts. On Febr
faltersainse [42]

Answer:

The Journal entries are as follows:

(a) On February 1,

Allowance for doubtful accounts      Dr. $8,800

To Account receivable-Oakley Co                         $1,900                      

To Account receivable-Brookes Co                       $6,900            

(To record write off)

(b) On June 5,

(i)

Account receivable-Oakley Co.         Dr. $1,900

To Allowance for doubtful accounts                     $1,900

(To record amount reinstated)

(ii)

Cash  A/c                                          Dr. $1,900

To Account receivable-Oakley CO                     $1,900

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6 0
3 years ago
The risk-free rate is 5%; Stock A has a beta of 2.0; Stock B has a beta of 1.0; and the market risk premiumis positive. Which of
butalik [34]

Answer:

C) If Stock B's required return is 11%, then the market risk premium is 6%.

Explanation:

In this question, we apply the Capital Asset Pricing Model (CAPM) formula which is shown below

Expected rate of return = Risk-free rate of return + Beta × (Market rate of return - Risk-free rate of return)

The (Market rate of return - Risk-free rate of return)  is also known as the market risk premium

If we take the required return is 11%, so the market risk premium would be for stock B

11% = 5% + 1 × Market risk premium

11% - 5% = Market risk premium

So, the market risk premium would be 6%

If we take the required return is 11%, so the market risk premium would be for stock A

11% = 5% + 2 × Market risk premium

11% - 5% = Market risk premium

So, the market risk premium would be 3%

Hence, the correct option is C

3 0
3 years ago
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