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Amortization Entries: Voss Company acquired patent rights on January 6, 2011, for $480,000. The patent has a useful life equal to its legal life of eight years. On January 3, 2014, Voss successfully defended the patent in a lawsuit at a cost of $80,000.
a. Determine the patent amortization expense for the current year ended December 31, 2014.
b. Journalize the adjusting entry to recognize the amortization.
perry company had no short-term investments prior to year 2011. it had the following transactions involving short-term
Prepare a tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and book value per share.
Carver Company produces a product which sells for $40. Variable manufacturing costs are $18 per unit. Fixed manufacturing costs are $5 per unit based on the current level of activity, and fixed selling and administrative costs are $4 per unit.
By reducing labor and other operating costs, the machine would provide annual cost savings of $59,000. The company requires a minimum pretax return of 12% on all investment projects. The net present value of the proposed project is closest to:
Samuels, Inc. reported net income for 2011 is $105,000. During 2011 the company had 5,000 shares of $100 par, 5% preferred stock and 20,000 of $5 par common stock outstanding.
Rick knew that this deal was too good to be true and so he took advantage of the offer before the station owner realized what a giveaway this was. How much should Mr. Z. include in his gross income? Explain your reasoning.
at january 1 2002 betty derose inc. had an allowance for bad debts with a 2700 credit balance. during 2002 betty
1.Comparative balance sheets for Softech Canvas Goods for 2013 and 2012 are shown below. Softech pays no dividends, and instead reinvests all earnings for future growth.
The flotation cost is 2% of the par value. Similar issues of preferred stock are currently providing a yield of 12%. What can the company expect to receive for each share of stock sold.
Compute the equivalent units of production for materials and conversion costs for the month of August. Compute the unit costs for materials and conversion costs for the month. Determine the costs to be assigned to the units transferred out and in pro..
On August 1, Gilmore Company purchased merchandise from Hendren with an invoice price of $ 60,000 and credit terms of 2/10, n/30.
gopal was holding 100 shares of rs.10 each of a company on which he had paid rs3 on application ad rs.2 on allotmentbut
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