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Allisa [31]
3 years ago
7

50 Points!!

Business
1 answer:
k0ka [10]3 years ago
3 0

Answer:

I believe that the answer is A.

Explanation:

Do not know if i am right or wrong, but i am going to answer anyways.

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All of the following are advantages of having a savings account except
expeople1 [14]

Answer:

Funds held in a savings account are highly liquid

Explanation:

The purpose of a savings account is the assist a customer achieve their saving objectives. A savings account is a secure way of accumulating funds for an intended purpose or keeping money that does not have immediate use.  

Financial institutions that offer savings account limit on withdrawals to help a customer achieve planned saving objective. It means money saved is not accessible at will. Penalties apply should a customer insists on more than the acceptable number of withdrawals.

5 0
2 years ago
Economists define potential income as the level of income that: Group of answer choices an economy is capable of producing witho
andrey2020 [161]

Answer:

an economy is capable of sustaining or producing without generating higher inflation.              

Explanation:

In simple words, potential economy refers to that level of output or GDP that an economy can produce and sustain over  along term with its given level of inflation and resources available.

Potential income has to be maintained over a long term and is based on the assumption that all of the resources available, whether human or natural, will be utilized as according to their maximum utility power.    

6 0
3 years ago
Which factor makes an IRA superior to a regular stock portfolio for saving for retirement?
Semenov [28]
I think the answer to the factor that makes an IRA superior to a regular stock portfolio for saving for retirement is that <span>IRAs usually include employer contributions. The answer is letter D.</span>
4 0
3 years ago
Read 2 more answers
On January 1, 2021, Weaver Corporation purchased a patent for $210,000. The remaining legal life is 20 years, but the company es
Ne4ueva [31]

Answer:

Requirement 1. Journal for purchasing Patent:

Jan 01, 2021    Patent Rights (Debit)                    210,000

                                  Cash/Bank (Credit)                            210,000

Requirement 2. Journal for amortization expense for the year ended 31 Dec, 2021:

Dec 31, 2021    Amortization expense - Patent    35,000

                                   Accumulated amortization                 35,000

Requirement 3. Journal for amortization expense for the year ended 31 Dec, 2022:

Dec 31, 2022    Amortization expense - Patent    35,000

                                   Accumulated amortization                 35,000

Requirement 4. Journal for incurring legal fees

Jan 31, 2023     Legal fees                                      30,000

                                    Cash/Bank                                          30,000

Requirement 5. Journal for amortization expense for the year ended 31 Dec, 2023:

Dec 31, 2023    Amortization expense - Patent    35,000

                                   Accumulated amortization                 35,000

Explanation:

Requirement 1.

Since Weaver corporation purchases a patent, it costs the company cash or bank balance. As the patent is a non-current intangible asset, it is a debit. On the other hand, as cash decreases due to the purchase of patent, the cash is a credit. In this journal, an asset (Non-current asset) increases, and another asset (Current asset) decreases. There will be no effect on the total asset.

Requirement 2, 3 and 5. All the calculations will be the same as it is a straight-line method of amortization. Straight-line depreciation (amortization) is a method of expense on an asset over a long period. The expense is the same over the period as the expense is calculated as the total cost divided by the useful number of years. Again, as the patent is an intangible asset; therefore, the asset has to be amortized instead of depreciated.

The amortization expense of patent is = $210,000/6 = $35,000

Since, the company estimates the patent's useful life will be 6 years. Therefore, the amortization expense will be $35,000 for each year.

Requirement 4: Since legal fees is an expense, the company pays for this due to the occurrence of legal issues. The expense decreases the cash; therefore, it is a credit. On the contrary, the legal fees are a debit as it decreases net income. The legal fees, however, does not affect the amortization expense as it is not adding to the cost of the patent.

7 0
2 years ago
Seth appears to be taken aback by the number of files on his desk and his coworker’s comments about his boss. This reaction depi
ycow [4]

Answer:

ENCOUNTER

Explanation:

Seth appears to be taken aback by the number of files on his desk and his coworker’s comments about his boss. This reaction depicts the Encounter stage of the socialization process.

4 0
3 years ago
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