Business, 23.11.2019 05:31 romyknight
Carla vista co. purchases a patent for $183,300 on january 2, 2017. its estimated useful life is 6 years.
a. compute amortization expense for the first year. amortization expense
b. show how this patent is reported on the balance sheet at the end of the first year.
Answers: 1
Business, 22.06.2019 05:40, Jenan25
Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?
Answers: 1
Business, 22.06.2019 11:10, jordanbyrd33
Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.
Answers: 2
Business, 23.06.2019 01:00, jerzie53
Gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $2,000 uncollectible account of its customer, a. hopkins. on july 10, gideon received a check for the full amount of $2,000 from hopkins. on july 10, the entry or entries gideon makes to record the recovery of the bad debt is
Answers: 1
Carla vista co. purchases a patent for $183,300 on january 2, 2017. its estimated useful life is 6 y...
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