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Question - Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by Blue Spruce Company in 2022.
1. Blue Spruce developed a new manufacturing process, incurring research and development costs of $132,000. The company also purchased a patent for $58,000. In early January, Blue Spruce capitalized $190,000 as the cost of the patents. Patent amortization expense of $19,000 was recorded based on a 10-year useful life.
2. On July 1, 2022, Blue Spruce purchased a small company and as a result recorded goodwill of $100,000. Blue Spruce recorded a half-year's amortization in 2022, based on a 50-year life ($1,000 amortization).
Required - Prepare all journal entries necessary to correct any errors made during 2022. Assume the books have not yet been closed for 2022.
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.
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Prepare the bank reconciliation for company.
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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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