1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ch4aika [34]
4 years ago
13

These are selected 2022 transactions for Flounder Corporation: Jan. 1 Purchased a copyright for $96,000. The copyright has a use

ful life of 6 years and a remaining legal life of 30 years. Mar. 1 Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $39,000. Sept. 1 Purchased a small company and recorded goodwill of $126,000. Its useful life is indefinite.
Prepare all adjusting entries at December 31 to record amortization required by the events.
(Credit account titles are autom entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the
Date Account Titles and Explanation Debit Credit
Dec. 31 |Amortization Expense 16000
16000
(To record amortization of Copyrights)
Dec. 31 Amortization Expense
(To record amortization of Patents)
Dec. 31 (To record amortization of Goodwill)
Business
1 answer:
baherus [9]4 years ago
6 0

Answer:

amortization expense 16,000 debit

                    copyright             16,000 credit

amortization expense  8,125 debit

                    patent                    8,125 credit

-no entry required-

Explanation:

copyright: 96,000 dollars

over 6 years of useful life: 96,000 / 6 = 16,000

patent: 39,000 over a 4 years year of useful life period

39,000 / 4 = 9,750

From March 1st to December 31th

9,750 x 10/12 = 8,125

goodwill:

we aren't given with any information about the need to check for impairment or information of loss in the goodwill value by providing the acquired company's assets or book value. Thus, we perform no entry for the period.

You might be interested in
Year-to-date, Oracle had earned a −1.34 percent return. During the same time period, Valero Energy earned 7.96 percent and McDon
Stels [109]

Answer:

Portfolio Return is 1.98%.

Explanation:

Weighted Average Return is used for to Calculate Portfolio's Return.

Portfolio Return = (-0.0134 * .3) + (0.0796 * .25) + (0.0088 * .45)

                            = -0.00402 + 0.0199 + 0.00396 = .01984 = 1.98%.

5 0
3 years ago
Methods analysis is particularly valuable when it is used on jobs that: (I) are high in labor content. (II) are done frequently.
ycow [4]

Answer:

B. I, II, and IV only

Explanation:

Job specialization can be defined as a strategic process which typically involves the ability of employees working in an organization to develop specific skills, knowledge, great expertise or professionalism and experience to perform their duties, tasks or job functions effectively and efficiently.

In order to gain the requisite skills, expertise and knowledge for job specialization, it is very important for the employees to have undergone an extensive training and a good number of years in work experience.

The primary purpose of job specialization is to increase efficiency and productivity because the employees are able to specialize in the use of specific tools (equipments) to accomplish their tasks, as well as limit the level of error or mistakes in the production process.

In Business management, method analysis can be defined as the study of the detailed process for the performance of a job i.e how a job is done. Thus, method analysis gives a detailed report on the tasks involved in the performance of a job and how they are to be done.

Basically, methods analysis is particularly valuable when it is used on jobs that:

1. Are high in labor content.

2. Are done frequently.

3. Are unsafe, tiring, unpleasant, and/or noisy.

3 0
3 years ago
Which of these is a major advantage of a market economy?
Fofino [41]

These is a major advantage of a market economy is it can change direction rapidly when needed as markets change. Thus second option is correct.

<h3>What is Market Economy?</h3>

Market Economy refers to the economy in which the prices of the goods and services are determined by the two market forces that are supply and demand.

There is a less control of the government in the market economy and therefore all the decisions are taken by the private individuals. Thus option 1st is incorrect.

The Prices of the goods and services are determined by the supply and demand forces and the prices are kept as per the affordability of the customers. Thus option 3rd is also incorrect.

Therefore the correct option is 2nd one as the market changes the price of the good and services are also effected and get changed.

Learn more about Market economy here:

brainly.com/question/14164189

#SPJ1

5 0
2 years ago
On December 31, 2015, Beta Company had 340,000 shares of common stock issued and outstanding. Beta issued a 6% stock dividend on
Tomtit [17]

Answer:

A. 353,150

Explanation:

To get The appropriate number of shares to be used in the basic earnings per share for 2016,

You subtract the stock that was acquired in September from the Beta company shares.

Thus

(340,000*1.06) - (29,000*3/12) = 353,150.

353,150 is the number of shares to be used for computing September 2016 shares.

3 0
3 years ago
Jordan paid $682 for 124 cupcakes that each cost the same amount. Find the price of one cupcake.
weeeeeb [17]

Answer:

Your answer is 5.5

Hope it helps

3 0
4 years ago
Other questions:
  • During a meeting, senior executives of a consumer products company tackled the problem that they were late in detecting several
    9·1 answer
  • Suppose that a surfboard designer owns a building and is renting part of the building's space to a spa. Further suppose that bec
    7·1 answer
  • Peter was just hired by a company that had recently started business operations. He was hired for his expertise and was asked to
    12·1 answer
  • Rather than generating tax revenue as do tariffs, subsidies require tax revenue. Therefore, they are not an effective protective
    8·1 answer
  • ____ risk events might include the performance failure of a product produced as part of a project, delays in completing work as
    5·1 answer
  • A limited partner will be liable for business debts if he or she
    15·1 answer
  • In the short run, what would indicate that a perfectly competitive firm is producing an output for which it is receiving a norma
    10·1 answer
  • Farmers Pantry Products Inc. and Market Grocers LLC dispute a term in their contract. If Farmers Pantry and Market Grocers have
    15·1 answer
  • Identify which of the following statements is correct as to why accounting is important. Multiple choice question. We live in an
    5·1 answer
  • Task 1: Answer the following questions in your notebook
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!