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Elza [17]
2 years ago
7

Granite Enterprises acquired a patent from Southern Research Corporation on January 1, 2021, for $4.1 million. The patent will b

e used for five years, even though its legal life is 20 years. Rocky Corporation has made a commitment to purchase the patent from Granite for $180,000 at the end of five years. Compute Granite's patent amortization for 2021, assuming the straight-line method is used.
Business
1 answer:
Artemon [7]2 years ago
7 0

Answer:

the patent amortization expense for the year 2021 is $231,000

Explanation:

The computation of the patent amortization is shown below:

= (Acquired value of the patent - ending value) ÷ legal life

= ($4,800,000 - $180,000) ÷ 20 years

= $231,000

We simply applied the above formula so that the correct value could come

Hence, the patent amortization expense for the year 2021 is $231,000

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Which of the following describe strategies that China used to achieve the status of a high-performing Asian economy? Check all t
xenn [34]

Answer:

Export of labor-intensive products

Heavy investment in building a world-class infrastructure to attract foreign investment

Explanation:

The population of China is the highest in the world, hence they concluded that they needed to use their number to their own advantage by adopting a labor-intensive production technique which enables them to export their products as well as ensuring a higher percentage of the populace is gainfully employed, little wonders how China products are available the world over.

Also, they provided  world class infrastructures which serve as incentives for foreign direct investment, for instance Apple moved its main factory to China due to the cheaper and available workforce coupled with the state of the art technological infrastructural development achieved by the Chinese people.

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3 years ago
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How does unsafe food harm us<br>​
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Answer:

Unsafe food creates a vicious cycle of disease and malnutrition, particularly affecting infants, young children, elderly and the sick. Foodborne diseases impede socioeconomic development by straining health care systems, and harming national economies, tourism and trade.

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2 years ago
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At 17 years old, Otto signed a contract to purchase a new Hummer by advancing a payment of $50,000. However, when Otto turned 20
Aloiza [94]
Read the fine print, if it says “after signing, this contract is final.” Then Otto is screwed, because he must pay the $50,000

Or, Otto could hire a lawyer to fight it in court

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7 0
3 years ago
Which theories of aging argue that the body's constant manufacturing of energy created by products that combine with various tox
jeka94
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4 0
3 years ago
On July 10, Boogie Footware agrees to a contract to sell 800 pair of flapper shoes for $16,000 to Twenties, Inc. On September 1,
atroni [7]

Answer:

$2,000

Explanation:

Revenue is the income generated from normal business activities. This includes allowances, discounts and deductions for sales returned.

Since Boogie and Twenties modify the agreement to reduce the price of the remaining 300 pair of flapper shoes to $10 a pair, it means that revenue to be recognized from the date of the change will be recognized at a unit price of $10.

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