Answer:
Dr amortization expense $14,500
Cr Copyright asset $14,500
Dr amortization expense $6,250
Cr Patent asset $6,250
Explanation:
First of all,a goodwill with an indefinite life is not depreciable,hence no adjusting journal entries would be prepared in respect of the goodwill.
However,the copyright would be amortized using the lower of useful life of 6 years and legal life of 30 years,the amortization expense for the year is shown below:
amortization charge=$87,000/6 years=$14,500
The patent is to amortized in the way as the as the copyright the lower of useful life and legal life.
amortization charge=$30,000/4 years*10/12=$6250
The patent was only used for 10 months in the year
The answer to your question is “an independent marketing channel” Have a great day.
<u>Solution and Explanantion:</u>
Prada has an excess business loss of $ 40000 . She may use $ 250000 of her share of $580000 LLC business loss to offset non business income.
As per new limit for IRS excess business loss will be for a single in excess of $250000. Any excess above this amount will be disallowed and treated as excess business loss which will be carried forward to next years
.
Now here as Prada is single she has $290000 share in total loss of $580000 as per new IRS limits she is allowed up to $250000 to set off against current years non business income and $40000 she can carry forward future years this excess business loss of $40000 is treated as part of the taxpayer's NOL carry forward
.
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Here is the answer: Before the iconoclasm of the eighth century occurred, icons were recognized as INTERMEDIARIES BETWEEN WORSHIPPERS AND THEY REPRESENTED HOLY FIGURES. Iconoclasm involves the belief that these holy figures or monuments should be destroyed based on religious beliefs too.
Answer:a. The company will be $11,000 better off over the 5 year period if it replaces the old machine.
Explanation:
The purchase of the new machine will bring the annual operating expenses to $9,000 compared to the $15,000 been spent on the old machine which brings in a savings of $6000 and when this is added to the $ 5000 increase sales revenue from the new machine, it means the company will be better off by $11,000 over the next five year if it replaces the old machine.
There is no justification for being $12,000, $20,000 or $6000 better off over the next five year by either replacing or keeping the old machine.
