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geniusboy [140]
3 years ago
8

On July 1, Sterns Co. acquired patent rights for $36,000. The patent has a useful life of 6 years and a legal life of 15 years.

Business
1 answer:
Komok [63]3 years ago
8 0

Answer:

Dr Amortization Expense $3,000

Cr Patents $3,000

Explanation:

Preparation of the journal adjusting entry on December 31 to recognize the amortization.

Dec. 31

Dr Amortization Expense $3,000

Cr Patents $3,000

(To record Amortization)

Amortization=(Patent rights/Useful life)*6/12

Amortization=($36,000/6)*6/12

Amortization=$3,000

(July 1 to Dec 31 =6months)

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Better Beverages purchased some fixed assets classified as five-year property for MACRS. The assets cost $108,000. The MACRS rat
lakkis [162]

Answer:

e. $89,337.60

Explanation:

Given that

The cost of the asset = $108,000

And, the MACRS rate is .2, .32, .192, .1152, .1152, and .0576 for years 1 to 6

So the accumulated depreciation at the end of the year 4 is

= ($108,000) × (0.2 + 0.32 + 0.192 + 0.1152)

= $108,000 × 0.8272

= $89,337.60

By multiplying the cost of the asset with the MACRS rate upto fourth year we can get the accumulated depreciation

0 0
3 years ago
Do you think the licensing process for international medical graduates is an unnecessary hurdle meant to shield U.S. doctors fro
Irina18 [472]

Answer:

No licensing is right. Doctors in U.S. are spending more on medical studies than any other country. It is necessary for other country medical students to gain license in order to do practice in the country.

Explanation:

In U.S. doctors are in deficiency so the country cannot completely cease employment for foreign doctors. The country needs to welcome foreign doctors but it is also necessary to safeguard home doctors. If U.S. will not safeguard rights of home country doctors then they will be demotivated and will not be patriotic for the country.

3 0
3 years ago
The modified internal rate of return is specifically designed to address the problems associated with: Multiple Choice long-term
tatiyna

Answer:

unconventional cash flows.

Explanation:

The modified internal rate of return means that return in which the cash flows that comes positive are again invested at the cost of capital of the firm also the initial investment that should be financed at the financing cost of the firm. It measures the correct cost and profitability in an accurately manner

Basically it is designed specifically for the non-conventional cash flows

And the same is to be considered

4 0
3 years ago
When a manager chooses to produce a quantity where marginal revenue exceeds marginal cost, ________.
nexus9112 [7]

Answer:

C

Explanation:

When a manager chooses to produce a quantity where marginal revenue exceeds marginal cost, the company is not earning all the profit that it can.

8 0
3 years ago
Dave is a salaried employee who works in a gas station. He only earns from his job and has no other source of income. He gets a
tigry1 [53]

Answer:

In my opinion the most suitable answer is E. increase his sources of income to show a rise in his income after taxes

Explanation:

The reason is he could lower his expenses too, but for how long? Inflation is going to eat his salary away anyway possibly in 5 to 10 years so what Daventry ustock do is to create another source of income so that he is safe. Possibly through investing in income generating assets, real estate and possibly a side hustle! (A small time business)

5 0
2 years ago
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