P10-4 the horstmeyer corporation commenced operations early in 2021. a number of expenditures were made during 2021 that were debited to one account called intangible asset. a recap of the $144,000 balance in this account at the end of 2021 is as follows: date transaction amount february 3 state incorporation fees and legal costs related to organizing the corporation $ 7,000 march 1 fire insurance premium for three-year period 6,000 march 15 purchased a copyright 20,000 april 30 research and development costs 40,000 june 15 legal fees for filing a patent on a new product resulting from an r& d project 3,000 september 30 legal fee for successful defense of patent developed above 12,000 october 13 entered into a 10-year franchise agreement with franchisor 40,000 various advertising costs 16,000 total $144,000 required: prepare the necessary journal entry to clear the intangible asset account and to set up account

He cheyenne hotel in big sky, montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. an occupancy-day represents a room rented out for one day. the hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. month occupancy- days electrical costs january 1,736 $ 4,127 february 1,904 $ 4,207 march 2,356 $ 5,083 april 960 $ 2,857 may 360 $ 1,871 june 744 $ 2,696 july 2,108 $ 4,670 august 2,406 $ 5,148 september 840 $ 2,691 october 124 $ 1,588 november 720 $ 2,454 december 1,364 $ 3,529 required: 1. using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (do not round your intermediate calculations. round your variable cost answer to 2 decimal places and fixed cost element answer to nearest whole dollar amount) 2. what other factors other than occupancy-days are likely to affect the variation in electrical costs from month to month? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) seasonal factors like winter or summer. systematic factors like guests, switching off fans and lights. number of days present in a month. fixed salary paid to hotel receptionist. income taxes paid on hotel income.