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Ugo [173]
3 years ago
8

On January 1, 2020, Grand Haven, Inc., reports net assets of $862,150 although equipment (with a four-year remaining life) havin

g a book value of $484,000 is worth $551,750 and an unrecorded patent is valued at $45,000. Van Buren Corporation pays $779,920 on that date to acquire an 80 percent equity ownership in Grand Haven. If the patent has a remaining life of nine years, at what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021
Business
1 answer:
galina1969 [7]3 years ago
7 0

Answer:

$35,000

Explanation:

Calculation for what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021.

Unrecorded patent is valued at $45,000

Less Amortization for 2 years (9 years remaining life) ($10,000)

(45,000/9 years*2)

Patent reported $35,000

($45,000-$10,000)

Therefore the amount of patent that should be reported on Van Buren's consolidated balance sheet at December 31, 2021 is $35,000

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IBM satisfies consumers' needs for powerful, easy-to-use laptop computers by converting assorted software routines, hardware dev
Ivan

Answer: Form utility

Explanation:

Utility is the satisfaction consumers derive from the use or consumption. Form utility is used to explain how well a particular product or service meets the needs of the customer. Form utility incorporates the needs and wants of consumers into the benefits and features of the products that is offered by the company.

Companies invest money and time into the research of product research in order to know the kind of products or services that consumers desire. The firm utility is the method of used by IBM.

8 0
3 years ago
In accumulating raw materials costs, the cost of raw materials purchased in a perpetual system is
Viktor [21]

Answer:

B. raw materials inventory

Explanation:

A perpetual inventory system is a system  in accounting records to ensures that the number of goods in a store or in storage facility is accurately and immediately reflected by the books

4 0
3 years ago
On August 2, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account receivable.
earnstyle [38]

Answer:

The journal entry for the following economic activity is given below.

Explanation:

Interest revenue = 6000*12% * 91/360 = 182

Date                     Account Title                                           Dr             Cr

Oct 31                    Cash                                                      6,180

                                  Notes receivable                                             6,000

                                  Interest revenue                                                180

5 0
3 years ago
Wages from an employer are the only source of income. True or false??
stira [4]

The answer is False. Wages from an employer are not the only source of income.

3 0
4 years ago
In a short-run model of a large open economy with a floating exchange rate, net capital outflow ______ as the domestic interest
balandron [24]

Answer:

1. decreases

2. decrease

Explanation:

When Domestic interest rate increases, as a result of floating exchange rate, the net capital outflow decreases which in turn leads to most goods to be used internally, instead of exporting it abroad, there by reducing the level of exports.

Hence, All things being equal, it is assumed or believed that, In a short-run model of a large open economy with a floating exchange rate, net capital outflow DECREASES as the domestic interest rate increases and is just equal to the DECREASE in net exports.

8 0
3 years ago
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