Answer:
Journal entries for the transactions are given below
Explanation:
1. Development of new product
DEBIT CREDIT
Research and development $24,000
Cash $24,000
2. Paid the plaintiff for losing patent
DEBIT CREDIT
Legal fee (expense) $8,000
Cash $8,000
3. Bought Equipment and signed non-interest bearing note
DEBIT CREDIT
Equipment Cash price $37,000
Discount on note payable $5,000
Cash paid $18,000
Note payable $24,000
4. Installed sprinkler system
DEBIT CREDIT
Sprinkler system $40,000
Cash $40,000
5. Plaintiff paid for successful infringement suit on its patent
DEBIT CREDIT
Patent $24,000
Cash $24,000
6. Bought New equipment and traded old one
DEBIT CREDIT
New Equipment $13,600
Accumulated depreciation $6,800
Loss on sale $3,400
Old Equipment $13,400
Cash $10,400
Working:
Accumulated depreciation = Original Cost - book value
Accumulated depreciation = $13,400 - $6,600
Accumulated depreciation = $6,800
Answer:
A. The statement is correct.
Explanation:
According to the law of supply, there is a positive or direct relationship between the price of wheat and the quantity of wheat supplied i.e if the price of wheat is increases then the quantity of wheat supplies is also increases and if the price of wheat decreases then the quantity of wheat supplies is also decreases that represents the direct relationship between the price and the quantity supplied
Hence, the first option is correct
Answer:
D) Lessons learnt report is the correct option.
Explanation:
It is a report performed when a project is concluded. The purpose is to determine and analyze elements of the project which were successful and which were not. They are also known as project post more terms and are aimed at informing process improvements that can mitigate future risks and promote best practices. These reports are considered a key component of effective risk management.
In Gibbons v. Ogden, the Supreme Court ruled that rail companies D. states could not restrict trade within their jurisdictions.
Under the constitution, rail companies have the electricity to make all laws that shall be vital and proper for carrying into execution the foregoing powers. Aaron Ogden was given permission to function his steamboats in the big apple. Thomas Gibbons changed and allowed to function his steamboats in the big apple.
The ruling in Gibbons v. Ogden asserted Congress's authority to adjust interstate trade on the idea of the Supremacy Clause. It set a precedent that Congress had the strength to overturn country rules if interstate commerce were worried.
The case introduced mild the problem of the trade Clause of the united states charter. It changed into a question of whether or not Congress ought to adjust positive factors of trade. It averted states from establishing similar monopolistic rail companies' legal guidelines, encouraging an increase in steamboat journey and cargo delivery. This increased change opportunities between states, boosting states' economies.
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Answer: $3,564.50
Explanation:
The total amount that the company will pay for the merchandise is the net cost of the merchandise, less a 3% cash discount, plus the transportation costs. The cash discount normally only applies to the merchandise and not the transportation costs.
The cost of the merchandise is $3,600 less the $250 refund, which equals $3,350. With a 3% cash discount they will pay 97% of this amount, which is $3,249.50. After adding the additional transportation charge of $315, the total amount to be paid is $3,564.50.
