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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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Ben learns that the company was going to be laying off several employees over the next several months. He knew that the rumor mi
sleet_krkn [62]

Answer:

D. Call an all staff meeting and give everyone the news at once.

Explanation:

Instead of letting the rumors spread throughout the company, what Ben is supposed to do is have a meeting with his entire staff and let all of them know at once what's going on. This way, he will be clear and direct and won't allow for gossip to spread throughout his company and he himself will address the issue head-on. This way he won't leave room for misinterpretation as he will explain what is going to happen.

5 0
3 years ago
If accounting information is to be useful, it must be expressed in terms of​
Novay_Z [31]

Answer:

accounting information?

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3 years ago
Suppose a riskless project requires an initial investment of $10 and will generate a one-time cash inflow of $30 two years later
Evgesh-ka [11]

Answer:

D. The payback period is less than 2 years.

Explanation:

Discount rate                 5%  

                                        0      1          2

intital investment        -10  

cash flow                       0        30

Total cash flow         -10      0        30

NPV                        17.21  

IRR                                 73%  

Therefore, The NPV is 17.21 and is positive, the statement is True.

IRR > 50%, Therefore the statement made is True

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Therefore, The statement made is true.

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7 0
3 years ago
an offer that can only be accepted by an offere's performance creates a(n) __________________________ contract​
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Once such individual does that thing, he or she has to be given what was agreed on in the contract. A typical example is the contact regarding an insurance policy.

Therefore, an offer that can only be accepted by an offere's performance will create a unilateral contact.

4 0
3 years ago
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horrorfan [7]

<u>Explanation:</u>

1. As in the case of Certain-Tees, Inc., their approach follows The Fairness or Justice ethical framework. This ethical framework involves the basic belief that everyone or everything should be treated or done fairly.

2. As in the case of  Sahara, Inc., and Perfect Paper executives, their approach follows the Utilitarian ethical framework. Which is the belief in doing what brings the greatest or most good to the majority.

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6 0
3 years ago
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