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Question - Due to rapid turnover in the accounting department, a number of transactions involving intangible assets were improperly recorded by Farnsworth Company in 2014.
1. Farnsworth developed a new manufacturing process, incurring research and development costs of $110,000. The company also purchased a patent for $50,000. In Early January, Farnsworth capitalized $160,000 as the cast of the patents. Patent amortization expense of $16,000 was recorded based on a 10- year useful life.
2. On July 1, 2014, Farnsworth purchased a small company and as a result acquired good will of $200,000. Farnsworth recorded a half- year's amortization in 2014, based on a 50-year life ($2,000 amortization). The goodwill has an indefinite life.
Required - Prepare all journal entries necessary to correct any errors made during 2014. Assume the books have not yet been closed for 2014.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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