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dexar [7]
3 years ago
14

On July 1, 2022, Jenks Company purchased the copyright to Jackson Computer tutorials for $424,000. It is estimated that the copy

right will have a useful life of 5 years and a remaining legal life of 9 years with an estimated salvage value of $24,000. The amount of Amortization Expense recognized for the year 2022 would be: ____________
Business
1 answer:
Alekssandra [29.7K]3 years ago
3 0

Based on the cost of the copyright and the period of amortization, the amortization in 2022 will be <u>$40,000</u>

First find the annual amortization expense:

<em>= (Cost of copyright - Salvage value) / Useful life </em>

= (424,000 - 24,000) / 5

= $80,000

The amortization for 2022 will however be for 6 months as the copyright was purchased on July 1.

= 80,000 x 6/12 months

= $40,000

In conclusion, the amortization expense will be $40,000

<em />

<em>Find out more at brainly.com/question/7274714. </em>

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On January 1, 2004, Oak Co. issued 400 of its 8%, $1,000 bonds at 97 plus accrued interest. The bonds are dated October 1, 2003
Anastaziya [24]

Answer:

Oak Co.

The amount that Oak should report as bonds payable, net of discount is:

$400,000.

Explanation:

a) Data and Calculations:

Cash from the issue of 400 bonds = 400 * $1,000 * 97/100 = $388,000

Interest rate = 8% semiannually on April 1 and October 1

Bonds payable = $400,000 ($1,000 * 400)

Date of bonds = October 1, 2003

Accrued interest from October 1, 2003 to January 1, 2004 = $8,000

b) The bonds payable is the face value of the bonds.  It is the amount that will be due for repayment to bondholders on the maturity of the bonds in 10 years' time, precisely on October 1, 2013.

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3 years ago
Concord Company on July 15 sells merchandise on account to Pharoah Co. for $3800, terms 3/10, n/30. On July 20 Pharoah Co. retur
babunello [35]

Answer:

The amount of cash received from this sale on July 24 is $1940.

Explanation:

The sell of merchandise on July 15 will result in an increase in sales revenue of $3800 and accounts receivables of $3800. The entry would be,

July 15 Accounts receivable     $3800 Dr

                 Sales revenue              $3800 Cr

The sales return of $1800 will reduce the amount of accounts receivables. The amount of accounts receivables outstanding and eligible to receive payment from will be (3800 - 1800) = $2000

The accounts receivables are offered a 3% discount if they pay within the 10 days of sale. On July 24, the payment is received within discount period and the discount allowed will be,

Discount allowed = 2000 * 0.03 = $60

The cash received will be $2000 - $60 = $1940

6 0
3 years ago
Question 11
Leni [432]

The personal guarantee corresponds to the document signed by Marcelino as a contractual protection.

<h3 /><h3>What is the personal guarantee?</h3>

It is a legal protection for credit-issuing companies, which guarantees the responsibility for paying debts with the use of the individual's personal assets if the contracting company is unable to bear such expenses.

Therefore, the personal guarantee is a form of legal protection guaranteed by a risk reduction contract to business partners.

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3 0
2 years ago
When you send a print résumé to apply for a job, you should always include a(n)
seraphim [82]
Whenever you send a print resume, it is always good to have a cover letter. It explains a lot about yourself and lets the interviewer and company know what to expect from and of you. 
6 0
3 years ago
Assume you are the manager of Assembly, Inc. You have just received an order for 38 units of an industrial robot, which is to be
bagirrra123 [75]

Answer:

G order Quantity = 320 no's to meet demand of 251 nos. in multiples of 80s.

G Order timing = 2nd week (beginning)

Explanation:

Solution:

Subassembly G order quantity (in units):

Based on the bill of material structure.

G sub assemblies needed for making one robot = 6+1 = 7

G Sub Assemblies needed making 38 robots = 38 x 7 = 266

Inventory of G sub assemblies = 15

G sub assemblies order needed = Demand - inventory

G sub assemblies order needed = 266 - 15

G sub assemblies order needed = 251

G sub assemblies order needed in multiple of 80's

Since, order quantities in multiple of 80's and more than equal to 251

G assemblies order quantity = 80x4 = 320

The multiple of 80's will meet the demand of 251

Less than 320, we cannot order, because it will not meet the demand of 251. As 80x3 = 240.

So,

320 is the minimum order quantity in multiple of 80's to meet the demand of 251.

b.

Sub assembly G order should start at beginning of the week.

Note: Lead time structure with respect to BOM structure for robot is attached below in the attachment.

Since, G order timing = 2nd week.

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3 years ago
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