1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bixtya [17]
3 years ago
8

Crane Company purchases a patent for $161,900 on January 2, 2022. Its estimated useful life is 5 years. (a) Prepare the journal

entry to record amortization expense for the first year. (Credit account titles are automatically indented when amount
Business
1 answer:
ArbitrLikvidat [17]3 years ago
8 0

Answer:

Explanation:

The journal entry is shown below:

Amortization expense - Patent A/c Dr $32,380

     To Patent A/c $32,380

(Being amortization expense for the first year is recorded)

The computation is shown below"

= Purchase cost of patent ÷ estimated useful life

= $161,900 ÷ 5 years

= $32,380

For the intangible assets, the amortization expense is considered, not the depreciation expense and the same is to be taken.  

You might be interested in
Pumpkin Company, during its first year of operations in 2016, reported taxable income of $170,000 and pretax financial income of
Brums [2.3K]

Answer:

bwkshddhksm mujhe nahi paatbakwbwjwhdhwjsbsjbs

6 0
3 years ago
Who is the current ceo of earthwear how much did accounts payable change in dollars and percent from 2014 to 2015. in which of t
aleksley [76]
Based on my online research, the current CEO of Earthwear is Calvin J. Rodgers.

From 2014 to 2015, the accounts payable change in dollars with an increase of $14,077 which is equivalent to 20.07%.

It is written that Earthwear had the highest net income in 2010. The net income amounted to $41,698.00

Additional detail about Earthwear is that it uses LIFO or last-in, first-out inventory valuation method. 
4 0
3 years ago
For each of the following scenarios, please decide whether there will be an increase or decrease in short-run aggregate supply,
algol13

Answer:

1.short run aggregate supply decreases

2.short run aggregate supply decreases

3.short run aggregate supply increases

Explanation:

The short run aggregate supply is the total production of goods and services in an economy holding some factors of production fixed.

1. Even in a healthy economy. As the natural rate of unemployment increases, short run aggregate supply decreases.

2. A rise in the price of lumber (inflation) would cause a decrease in short run aggregate supply.

3. An increase in productivity caused by the acquisition of capital equipment would cause the short run aggregate supply to increase.

8 0
3 years ago
A __________ describes the minimum qualifications a person must have to perform the job successfully.
Katena32 [7]
The correct answer here would be a job specification. 
5 0
3 years ago
you are working on creating a business document with two other co-workers . based on just this information,which of the followin
Artyom0805 [142]

Answer:

scooby doo????

Explanation:

3 0
3 years ago
Read 2 more answers
Other questions:
  • Two insulation thickness alternatives have been proposed for a process steam line subject to severe weather conditions. One alte
    5·1 answer
  • Integrated Masters Inc. (IMI) is presently operating at 80% of capacity and manufacturing 131,000 units of a patented electronic
    10·1 answer
  • g The Esposito Import Company had 1 million shares of common stock outstanding during 2021. Its income statement reported the fo
    7·1 answer
  • Suppose that the total production of an economy consists of 4 oranges and 10 candy bars, each orange sells for $0.25, and each c
    9·1 answer
  • Redline Editorial Services sent a $1,000 invoice to a customer for copyediting a booklet. According to the terms of the invoice,
    14·1 answer
  • Which one of the following statements is correct? Multiple Choice Stocks can only be assigned one dividend growth rate. Preferre
    13·1 answer
  • Prescott Bank offers you a five-year loan for $75,000 at an annual interest rate of 6.8 percent. What will your annual loan paym
    6·1 answer
  • Which of the following are advantages of working for a for-profit healthcare facility? Check all of the boxes that apply.
    13·1 answer
  • Email communication: A. is characterized by low control. B. is characterized by little coordination. C. is a rich communication
    10·1 answer
  • Using the interest method, the journal entry to record the first interest payment and the related amortization for bonds issued
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!