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Goryan [66]
3 years ago
7

On January 2, year 1, Lava, Inc. purchased a patent for a new consumer product for $90,000. At the time of purchase, the patent

was valid for fifteen years; however, the patent's useful life was estimated to be only ten years due to the competitive nature of the product. On December 31, year 4, the product was permanently withdrawn from sale under governmental order because of a potential health hazard in the product. What amount should Lava charge against income during year 4, assuming amortization is recorded at the end of each year
Business
1 answer:
Archy [21]3 years ago
4 0

Answer:

The amount Lava should charge against income during year 4 is $63,000.

Explanation:

Since amortization is assumed to be recorded at the end of each year, this can be calculated as follows:

Annual amortization expense = Cost of the patent  / Patent's estimated useful life = $90,000 / 10 = $9,000

Amortization expense recorded prior to year 4 = Annual amortization expense * 3 years =  $9,000 * 3 = $27,000

Unamortized cost of patent charge against income during year 4 = Cost of the patent - Amortization expense recorded prior to year 4 = $90,000 - $27,000 = $63,000

Therefore, the amount Lava should charge against income during year 4 is $63,000.

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Companies such as Motorola and Toyota have made significant contributions to improving quality in productive systems with their
lozanna [386]

Option A

Companies such as Motorola and Toyota have made significant contributions to improving quality in productive systems with their introduction and promotion of concepts such as: Lean and Six Sigma

<h3><u>Explanation:</u></h3>

Lean Six Sigma is a process of advancement methodology intended to reduce problems, eliminate waste and incompetence, and enhance working conditions to present a better acknowledgment of customers’ demands. It unites the instruments, techniques, and sources of Lean and Six Sigma into an individual big and robust methodology for promoting your organization’s services.

Lean Six Sigma’s team-oriented method has demonstrated results in maximizing ability and dramatically enhancing profitability for businesses throughout the world. Lean opinions accommodate to decrease or discharge process wastes. Six Sigma concentrates on difference - decrease in the process.

4 0
3 years ago
In a command economy:_______
boyakko [2]

Answer:

Option d                      

Explanation:

Command economies also recognized as a planned economy have as their core tenet that national government administrators own or operate a business within a nation.

A command economy refers to the mechanism in which the government determines what products should be manufactured, how much should be manufactured and the value at which the products are offered for sale, rather than the free market.

Thus, from the above we can conclude that the correct option is D.

5 0
3 years ago
Analysts predicted earnings per share (EPS) for your company to be $0.XX at the close of 20XX. How does this compare to actual E
nikdorinn [45]

Answer and Explanation:

Earnings per Share, EPS = <u>Net Income dividend of preferred stock</u>

                                            Number of stock outstanding

EPS  depends on the earnings and its dilution due to increase in preferred stock also it depends on the net income earned

When EPS is higher than analyst prediction,

this may be due to increase in the net income

or

payback of common stock or preferred stock

thereby leading to reduction in the number of stock outstanding

When EPS is lower than analyst prediction

this would be due to reduction in the net income

or

increase of stock or preferred stock due to fresh issue

Insurance against issues that could lead to reduction on income and inrease in the activities that will lead to net income increase can help meet or surpass analyst prediction

7 0
3 years ago
On July 1, Shady Creek Resort borrowed $310,000 cash by signing a 10-year, 11% installment note requiring equal payments each Ju
mafiozo [28]

Answer:

$34,100

Explanation:

The interest on the installment note for the first year is a function of both the face value of the note and interest rate of 11%

Interest expense on the first annual payment=$310,000*11%

Interest expense on the first annual payment=$34,100

The amount principal repayment in respect of the  first annual payment is the amount of payment which is $52,639 minus the interest portion of the payment.

The Principal portion of the first payment=$52,639-$34,100=$18,539

8 0
3 years ago
The Constitution expressly grants which of the following powers to Congress? a. to receive ambassadors b. to appoint judges c. t
lbvjy [14]

Answer:

d. to regulate interstate commerce

Explanation:

The United States Constitution has the commerce clause in Article 1 Section 8 which allows the Congress to control the commerce with other nations and among the states.

According to this clause, the Congress can regulate the commerce that takes place between states and because of that, the answer is that the  Constitution expressly grants the power to regulate interstate commerce to Congress.

3 0
3 years ago
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