Answer:
a. Particulars Amount
Patent cost $400,000
Less: Amortization for 3 years <u>$150,000 </u> ($400,000*3/8)
Book value at the end of year 3 $250,000
Addition during Year 4 <u>$20,000 </u>
Total book value <u>$270,000</u>
Patent amortization expense for the Year 4 = Total book value / Remaining life
Patent amortization expense for the Year 4 = $270,000 / 5
Patent amortization expense for the Year 4 = $54,000
b. Adjusting Entry
Date Account titles Debit Credit
Amortization expense $54,000
Patents $54,000
Answer:
Queries can perform many different functions in a database. Their most common function is to retrieve specific data from the tables. The data you want to see is usually spread across several tables, and queries allow you to view it in a single data sheet.
Answer:
The answer is: John Akers would have probably fired the player and made the video public.
Explanation:
Akers firmly believed that ethics were fundamental to economic competitiveness. He argued that without ethical behavior, individuals, corporations and society as a whole couldn´t be economically competitive.
So in this case, he would have simply terminated the players contract without regarding any of the potential downsides for the team.
Answer:
X = 325 cars will yield same profit in both locations
Explanation:
Location City Outskirts
Dealer Price $ $
(98 x 330) 32340 32340
Labour,Material
and Transportation Cost
($30/car x 330 cars) (9900)
( $38/car x 330 cars) (12540)
<u>Fixed Cost (6950) (4350)</u>
Profit 15,490 15450
City will yield greatest profit if monthly demand is 330 cars
Location City Outskirts
Dealer Price $ $
(98 x 430) 42,140 42,140
Labour,Material
and Transportation Cost
($30/car x 430 cars) (12900)
( $38/car x 430 cars) (16340)
<u>Fixed Cost (6950) (4350)</u>
Profit 22,290 21450
City will yield greatest profit if monthly demand is 430 cars
b)
let X be the volume of output for both sites to yield same profit
City
Dealer Price = 98X
Labour, material and transportation= 30X
Fixed cost = 6950
Profit = 98X-(30X+6950)
Outskirts
Dealer Price = 98X
Labour,Material and transportation = 38X
Fixed Cost = 4350
Profit = 98X-(38X+4350)
Both Profits are same therefore
98X-30X-6950 = 98X-38X -4350
-30X+38X = -4350+6950
-8X = 2600
X = 325 cars will yield same profit in both locations
Answer:
the business will pay for the supplies at a later time
a liability has been incurred.
the Accounts Payable account will be increased.
Explanation:
In the case when the supplies are purchased on credit, the following entry should be passed
Supplies Dr XXXX
To Account payable XXXX
(Being supplies purchased on credit is recorded)
here supplies is debited as it increased the asset and credited the account payable as it also increased the liabilities
So the following options should be chosen
1. The business would pay at a later time
2. Liability is incurred
2. The account payable is increased