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2 years ago

14

intangible assets that are acquired from other entities are referred to as purchased intangibles, whereas intangibles that are c

reated by a company are referred to as

1 answer:

Pavlova-9 [17]2 years ago

3 0

Answer:

Internally developed intangibles

Explanation:

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In many developing countries, the amount paid in ___________________ was as much as the combined amount for water, health, agric

Marianna [84]

In many developing countries, the share paid in a deficit budget was as much as the united amount for water, health, agriculture, roads, transport and finance.

<h3>What is the surplus and deficit budget?</h3>

A budget surplus is when extra money is gone over in a budget after expenses are paid. A budget deficit ensues when the federal government spends more money than it contains in revenue. Internal loans that drive up for the bulk of public debt are further divided into two broad types – marketable and non-marketable debt.

Anyone having borrowed funds or interests from another owes a debt and is beneath obligation to return the goods or repay the funds, usually with interest. For governments, the demand to borrow to finance a deficit budget has led to the growth of various states of national debt.

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6 0

1 year ago

On November 7, Mura Company borrows $370,000 cash by signing a 90-day, 8%, $370,000 note payable. 1. Compute the accrued interes

Hatshy [7]

Answer:

At 31 December, the Interest for 54 days accrues as follows :

Interest expense $17,740 (debit)

Note Payable $17,740 (credit)

On payment February 5, the Interest expense will be capitalized in the Note Payable as follows :

Note Payable $407,473 (debit)

Cash $407,473 (credit)

Explanation:

AT, November 7, When Mura Company borrows the money :

Cash $370,000 (debit)

Note Payable $370,000 (credit)

At 31 December, the Interest for 54 days accrues as follows :

Interest expense $17,740 (debit)

Note Payable $17,740 (credit)

Interest expense calculation = $370,000 × 8% × 54/90

= $17,740

At February 5, the interest for 60 days accrues as follows :

Interest expense $19,733 (debit)

Note Payable $19,733 (credit)

Interest expense calculation = $370,000 × 8% × 60/90

= $19,733

On payment February 5, the Interest expense will be capitalized in the Note Payable as follows :

Note Payable $407,473 (debit)

Cash $407,473 (credit)

Note Payable Calculation = $370,000 + $19,733 + $17,740

$407,473

3 0

3 years ago

Pitney Co. purchased an office building, land, and furniture for $639,300 cash. The appraised value of the assets was as follows

serg [7]

Solution :

a).<u> Amount to be recorded on the books for each of the assets.</u>

Working Allocated cost($)

Land (639,300 / 716,016 )x 136,043 121467

Building (639,300 / 716,016 )x 179,004 159825

Furniture (639,300 / 716,016 )x 400,969 358008

Total 639,300

b). <u>Statement model</u>

Assets : Cash + Land + Building + Furniture

639,300 + 121,467 + 159825 + 358008

Cash flow = 639,300

c). <u>Journal entry</u>

General journal Debit($) Credit($)

Land 121,467

Building 159,825

Furniture 358,008

Cash 639,300

5 0

3 years ago

Refer to the following trial balance. Debit Credit Cash $19,000 Accounts Receivable 40,000 Merchandise Inventory 62,000

Kryger [21]

Answer:

The answer is B.

Explanation:

Gross profit is the difference between a company's net sales or total revenue and cost of sales or cost of goods sales.

Sales revenue is $433,000

Cost of Goods Sold is $240,000

Remember that Gross profit is Sales revenue - cost of goods sold.

Sales revenue----------------------------$433,000

Minus: Cost of Goods Sold----------$240,000

Gross profit--------------------------------<u>$193,000</u>

5 0

3 years ago

Sheffield Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution.

vlabodo [156]

Answer:

SHEFFIELD LABORATORY

PATENT (NO. 78-6002-1A)

Carrying value as at Dec 31

2011 2015 2018

Cost $182,300 $349,000 $385,000

Amortization <u> (10,724) </u> <u>(79,433) </u> <u>(142,403)</u>

<u> 171,576 </u> <u> 269,567 </u> <u>242,597</u>

Cost

As at 31 Dec 2011

Design and construction of a prototype $89,000

Testing of models 40,600

Fees paid engineers and lawyers to prepare application <u> 52,700</u>

<u>$182,300</u>

As at 31 Dec 2012

Cost as at Jan 1, 2012 $182,300

Additional cost during the year:

Engineering activity necessary to advance. <u> $84,500 </u>

<u>$266,800</u>

As at 31 Dec 2013

Cost as at Jan 1, 2013 $266,800

Additional cost during the year:

legal fee paid <u>$40600 </u>

<u> $307,400</u>

As at 31 Dec 2014

Cost as at Jan 1, 2013 $307,400

Additional cost during the year:

Research aimed at modifying the design <u>$41,600 </u>

<u> $349,000</u>

As at 31 Dec 2018

Cost as at Jan 1, 2018 $349,000

Additional cost during the year:

legal fee paid in unseccesful patent infrigement. <u> $36,000 </u>

<u>$385,000</u>

Amortization for the year

Dec 31 2011 $182,300/17 = $10,724

Dec 31 2012

182,300/17 10,724

84,500/0 <u> - </u>

<u> 10,724</u>

<u />

Dec 31 , 2013 :

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/0 = <u> - </u>

<u> 16,005</u>

Dec 31 2014 =

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/16 = 2,538

41,600/17 = <u> 2,447</u>

<u> 20,990</u>

Dec 31 2018 =

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/16 = 2,538

41,600/17 = 2,447

36,000/0 = <u> -</u>

<u> 20,990</u>

Explanation:

5 0

3 years ago