Answer:
The $400,000 should be a result of the acquisition of the in-process research and development activities
Explanation:
Intangible Assets: The intangible assets are those assets that cannot be seen or even touched. It is not tangible in nature
The example is goodwill, and intellectual properties like - patents, copyrights, trademarks, etc.
The recording of the intangible assets based on the fair market value i.e $400,000 instead of associated costs.
Answer:
I) Days sales outstanding (DSO) for all customers? 48.7days
= (53*0.9)+(10*0.1) = 48.7 days
II) Net sales? $166.600
The Net sales = Gross sales - sales allowance
The discount amount due for the 10% discount customers = 2% of the 10% of 170 mn ==> 0.02 * 0.1 * 170 ===> 0.34 mn
∴ The Net sales = 17 - 0.34 mn = 16.66 mn
Amount paid by discount customers? $13.600
Explanation:
I. General Credit Policy Information
Credit stamps 2/10 Net 30
Days sales outstanding (DSO) for all customers 48.7days
DSO for customers who take the discount (10%) 10days
DSO for customers who forgo the discount (90%) 53days
II. Annual Credit Sales and Costs ($ millions)
Gross sales $170.000
Net sales? $166.600
Amount paid by discount customers $13.600
Amount paid by non discounted customers $153.000
Variable operating costs (82% of gross sales) $139.40
Bad debts $0.0
Credit evaluation & collection costs (10% of gross sales) $17.00
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
The following sets of percentages would be used to calculate the correct number of equivalent units in the ending work-in-process inventory:
D. Materials, 100%; conversion cost, 60%.
Explanation:
<em>The above is actually the best option which would be used to calculate the correct number of equivalent units in the ending work-in-process inventory.</em>
Systematic acquisition and recording information concerning members of a given population is called census. This involves collecting and gathering data about the size and the composition of a population in a given country or nation. In the U.S for example census is undertaken after every ten years which involves tallying the population in the country and recording basic information such as age, sex and race. The census is used by the federal government among other reasons to establish the allocation of funding for education programs in the communities and states
