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beks73 [17]
3 years ago
7

Shamrock Industries acquired two copyrights during 2020. One copyright related to a textbook that was developed internally at a

cost of $16,500. This textbook is estimated to have a useful life of 5 years from September 1, 2020, the date it was published. The second copyright (a history research textbook) was purchased from University Press on December 1, 2020, for $30,000. This textbook has an indefinite useful life.
How should these two copyrights be reported on Shamrock's balance sheet as of December 31, 2017?
Copyright No. 1 $ __________ __________
Copyright No. 2 $ __________ __________
Business
1 answer:
Reika [66]3 years ago
8 0

Answer: Copyright 1 - $0

Copyright 2 - $30000

Explanation:

Copyright 1 shouldn't be reported on the balance sheet. This is because the cost with regards to internally developed copyright will have to be expensed. Therefore, copyrights 1 on the balance sheet will be $0.

Copyright 2 will be reported on the balance sheet with a value of $30000. The copyright's cost of acquisition will have to be capitalized.

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What is meant by cot plus pricing
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Answer:

Its technically just a mark up on goods.

Explanation:

Cost plus pricing involves adding a markup to the cost of goods and services to arrive at a selling price.

3 0
3 years ago
Read 2 more answers
You are bullish on telecom stock. the current market price is $110 per share, and you have $22,000 of your own to invest. you bo
deff fn [24]

Answer:

9.4%

Explanation:

Initial investment=$22,000+$22,000=$44,000

number of shares bought=$44,000/$110(the investor paid $55 out of every $110)

number of shares bought=400

Increase in share in one year=$110*8%=$8.80

loan interest on each share=$55*6.6%=$3.63

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5 0
3 years ago
What do student do in CTSO name one example
solmaris [256]

a student organization that contributes to the preparation of a world-class workforce through the advancement of leadership, citizenship, academic, and technological skills for students at the Secondary and the Post-Secondary level.

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7 0
4 years ago
Knoll, inc. currently sells 15,000 units a month for $50 each, has variable costs of $20 per unit, and fixed costs of $300,000.
Lunna [17]
Cost per unit
(300,000÷15,000)+20=40

Current profit
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Profit change
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units will knoll need to sell for profit to remain the same as before the price change is
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3 0
4 years ago
An analysis in which all the components of an income statement are expressed as a percentage of net sales is called blank_______
KATRIN_1 [288]

Answer:

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In a common size income statement, each line item of the Income statement is expressed as a percentage of the sales amount for that period.

This helps in comparing performance of companies in different sectors or industries.

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3 years ago
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