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3 years ago

Bluestone Company had three intangible assets at the end of the current year:

Business

1 answer:

Dimas [21]3 years ago

7 0

Answer:

Bluestone Company

1. Acquisition cost of each intangible asset:

Patent $3,200

Trademark = $0

Licensing Rights = $70,000

2. Amortization for the current year ended December 31:

Amortization Expenses:

Patent = $200 ($3,200/16)

Trademark = $7,500 (expensed in full)

Licensing Rights = $14,000 ($70,000/5)

3. BLUESTONE COMPANY

Income Statement (partial)

For the year ending December 31

Amortization Expenses:

Patent $200

Licensing Rights $14,000

Trademark expense $7,500

BLUESTONE COMPANY

Balance sheet (partial)

At December 31

Intangibles:

Patent $3,200

Acc. Amortization 200 $3,000

Licensing Rights $70,000

Acc. Amortization 14,000 $56,000

Explanation:

a) Data and Calculations:

a. Purchased patent on January 1 for $3,200 Estimated life 16 years

b. Internally developed trademark is expensed: $7,500

c. Purchasing Licensing Rights on January 1 for $70,000 for 5 years

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3. Which part of a letter identifies the address of the person writing the letter

bulgar [2K]

Answer:

Return Address

Explanation:

There are primarily 7 parts of a letter and these are the following:

1. Letterhead/Heading (business) or Return Address (an individual)

2. Date

3. Inside Address

4. Salutation/Greeting

5. Body

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The "Return Address" refers to the address of the sender. This includes the name of the sender as well. This is very important especially if the letter requires a response from the recipient.

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3 years ago

Mrs. Beach bought shells at a gift shop. The red shells (r) were $0. 75 each, and the white shells (w) were $0. 49 each. The tot

inessss [21]

The next guesses of the clerk should be less of red shells and more of white shells.

<h3>Decision about less of white and more red shells:</h3>

Given that,

Red shell [r] costs = $0.75 each.

White shell [w] costs = $0.49 each.

Total of 8 shells = $4.70

The clerk guesses that the $4.96 for 4 red shells and 4 white shells is greater than the actual purchase.

Therefore,

The clerk should make use of less red shells, and more of white shells, because the unit costs of red shell is more than the white shell.

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2 years ago

During 2017, Bolton Corporation acquired a mineral mine for $1,500,000 of which $200,000 was determined to be the salvage value

MAVERICK [17]

Answer:

$162,500

Explanation:

Depletion is used to expense the cost of extracting natural resources.

Depletion expense = (unit extracted in 2017 / total units that could be extracted) x (Cost- salvage value)

(1,500,000 / 12,000,000) x ( $1,500,000 - $200,000) = 0.125 × 1,300,000 = $162,500