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Point 1: Saar Associates sells two licenses to Kim & Company on September 1, 2018. First, in exchange for $115,000, Saar provides Kim with a copy of its proprietary investment management software, which Saar does not anticipate updating and which Kim can use permanently. Second, in exchange for $103,500, Saar provides Kim with a four-year right to market Kim's financial advisory services under the name of Saar Associates, which Saar advertises on an ongoing basis.
Point 2: The trade name "Saar Associates" is not well known in the marketplace and the owner provides no advertising or other benefits to a licensee of the Saar Associates trade name during the license period.
Question 1: How much revenue will Saar recognize in 2018 under this arrangement if Saar reports under U.S. GAAP? (Do not round intermediate calculation.)
How have the Australian courts approached the issue of which which proceeds of a business will constitute the 'ordinary incidents' orordinary proceeds' of a business?
In 2010, Dreyer Corporation began construction work under a three year contract. The contract price is $800,000. Dreyer uses the percentage of completion method. The financial statement presentations relating to this contract on December 31, 2010 f..
Determine the monthly payment for a thirty-year real estate loan with an annual percentage rate of 8.5% and an initial principal of $200,000.
the ceo of abc corporation is a dog lover. he and his spouse like cocker spaniels and have a pure bred male cocker
Using the conventional retail method, prepare a schedule computing estimated lower-of-cost-or-market inventory for October 31, 2011.
Record annual depletion for the first year, ended August 31, 2017. (Credit account titles are automatically indented when the amount is entered
Linkin Corporation is considering purchasing a new delivery truck. Compute the cash payback period and net present value of the proposed investment.
J. Smith and Co. are retailers of electrical applicances. As from 1st July, 1953, they have sold goods on hire-purchase terms as well as for cash.
Shareholders in closely held corporations often engage in transactions designed to minimize the double taxation effect of C corporations. Briefly describe the double taxation effect and explain some of the ways double taxation can be minimized.
Why is it important to investigate both price (rate) and volume (efficiency) variances when rewarding employees for satisfactory work when performance evaluations are based on meeting budgets?
1. you may have shopped at a ronnys store. suppose ronnys purchased t-shirts on account for 18130. credit terms are 315
What FASB covers the reporting and accounting of goodwill? What is the difference between old goodwill reporting and new goodwill reporting?
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