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3 years ago

Bluestone Company had three intangible assets at the end of the current year:

Business

1 answer:

adoni [48]3 years ago

8 0

Answer and Explanation:

The computation is shown below:

1) Calculation of the acquisition cost is

Patent = $4,000

Trademark = $210,000 + $8,500 = $218,500

Licensing Rights = $80,000

2) Computation the amortization expense is

Patent = $4,000 ÷ 10 = $400

Trademark = $218,500 ÷ 10 = $21,850

Here we assume the indefinite life of 10 years

Licensing Rights = $80,000 ÷ 5 = $16,000

Income statement:

Amortization expense $38,250 ($400 + $21,850 + $16,000)

Balance sheet at year end december:

Fixed assets

Intangibles

Patent $3600 ($4,000 - $400)

Trademark $196,650 ($218,500 - $21,850)

Licensing Rights $64,000 ($80,000 - $64,000)

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First City Bank pays 9 percent simple interest on its savings account balances, whereas Second City Bank pays 9 percent interest

4vir4ik [10]

Answer:

Future value is $14,944.22

Interest earned is $7444.22

Explanation:

The amount to earn from Second City Bank is the interest that would have been received at the end of the eight years,

In order to determine the amount of interest,it would be nice to first of all compute the future value-the worth of the savings at the end of eight year using the below formula:

FV=PV*(1+r)^N

PV is the $7,500 invested

r is the compound rate of return is 9%

N is the number of years the amount was invested which is eight years

FV=$7,500*(1+9%)^8

FV=$ 14,944.22

Hence Interest =FV-PV

=$ 14,944.22 -$7,500

=$7444.22

7 0

3 years ago

In a contract, what is consideration? A. Exchanging things of value B. Breaching the contract C. A business tort D. The minimum

Art [367]

Exchanging things of value is what consideration is in a contract.

7 0

3 years ago

A property is listed for sale at $235,000. A buyer's offer of $220,000 is rejected by the seller. Six months later, the seller r

atroni [7]

Explanation:

the property's market value is the $210,000

8 0

3 years ago

Suppose you were writing a social media plan for Two Scoops, with two objectives: to improve brand awareness in new markets and

Bas_tet [7]

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Quantitative research is beneficial since it offers precise numbers for comparison and referencing. We occasionally collaborate with Research, a California-based market research company, to assist us in designing and putting into practice quantitative research tactics since we have faith in their knowledge in this field.
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#SJP4

3 0

2 years ago

Brainliest + Points! Please explain

svetoff [14.1K]

it is the down payment

3 0

3 years ago