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Lera25 [3.4K]
3 years ago
6

Bryson Corporation purchased a limited-life intangible asset for $1,162,500 on May 1, 2018. It has a remaining useful life of 15

years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2020 (if necessary, round your answer to the nearest dollar)
Business
1 answer:
Nastasia [14]3 years ago
5 0

Answer:

$206,667

Explanation:

Calculation for What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2020

Using this formula

Total Amortization expense=Cost/useful life*Number of months

Let plug in the formula

Total Amortization expense=$1,162,500/180*32

Total Amortization expense=$206,667

Note that 15 years*12months will give us 180 months which is the useful life while May 1, 2018 - December 31, 2020) will give us 32 months

Therefore the total amount of amortization expense should have been recorded on the intangible asset by December 31, 2020 will be $206,667

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An author just signed a lucrative contract with a publisher that offers to pay her the amount of $500 at the end of year 9 when
solong [7]

Answer:

Ans. The annuity that will be equivalent to the publisher´s advance would be $26.40 per year, for 9 years at 7% interest rate.

Explanation:

Hi, first, let´s bring that $500 to be paid in 9 years to present value, we need to use the following formula.

PresentValue=\frac{FutureValue}{(1+r)^{n} }

Where: r is our discount rate (7%) and n the periods from now when she will receive that $500 amount. This should look like this.

PresentValue=\frac{500}{(1+0.07)^{9} } =271.97

Ok, so the equivalent amount of money today of those $500 in nine years is $271.97, but the author wants $100 today so the remaining amount has to be used to find the equal annual payments to be made in order to be equivalent to re remaining balance ($171.97). We now need to use the following equation.

Present Value=\frac{A((1+r)^{n}-1 )}{r(1+r)^{n} }

And we solve for "A" like this

171.97=\frac{A((1+0.07)^{9}-1 )}{0.07(1+0.07)^{9} }

171.97=\frac{A(0.838459212 )}{0.128692145}

171.97=A(6.515232249)

A=\frac{171.97}{6.515232249} = 26.40

Therefore, the equivalent amount of money of $500 in 9 years is $100 today and $26.40 every year, at the end of the year, for nine years.

Best of luck.

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Answer:

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Brrunno [24]

Answer:

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It is provided that after cost overruns of the project is $10 million, which can never be recovered, thus, it is a kind of sunk cost.

Sunk cost is the cost which is made previously, and now in no manner will affect the decision, as cannot be recovered.

Therefore, such cost is ignored.

Further provided additional cost will be $12 million, therefore, now the society shall make a rational choice whether to continue the project providing solar electricity of $10 million, as in case of amount of solar energy is $32 million or $22 million, then the choice is obvious to accept,

Rational choice will be for solar electricity worth $10 million.

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