Answer:
The journal entry is as follows:
Explanation:
January 5 Patent A/c..................Dr $100,000
To Cash A/c............Cr $100,000
As patent is purchased so asset is increasing and any increase in asset would be debited. Therefore, patent account is debited. And it is purchased against cash and decrease in asset is credited. Therefore, cash account is credited.
December 31 Amortization expense- Patent................Dr $5,000
To Accumulated Amortization- Patent........Cr $5,000
Working Note:
Patent Cost is $100,000
Useful life is 20 years
Amortization expense = Patent Cost / Useful life of asset
= $100,000 / 20
= $5,000
Answer:
Explanation:
Compared to the McLaren, the Lamborghini has less power, a heavier engine, and less active aerodynamic designs. This allows the Huracán Performante to be an excellent supercar with extreme sounds, feels, and the excitement of a Lamborghini, but in performance the McLaren is superior.
<span>Power given to people because of their superior knowledge about the work is B. expert power.
Experts are people who have superior knowledge of a subject when compared to other people. So if someone thinks that your knowledge about something is greater than that of someone else's, your boss may give you more power than other employees.
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The contract in the scenario is considered to be valid even
if the contract is unauthorized because both of the parties have agreed on the
contract and therefore, it is considered to be valid and made use of even if
there is no authorized personnel involved.
Variance reports are internal reports for management. They are used primarily for the purposes of internal accounting and auditing.
