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Question - Bob Corp. obtained a trade name in January 2019, incurring legal costs of $76,320. The company amortizes the trade name over 8 years. Bob successfully defended its trade name in January 2020, incurring $20,776 in legal fees. At the beginning of 2021, based on new marketing research, Bob determines that the fair value of the trade name is $63,600. Estimated future net cash flows from the trade name are $67,840 on January 4, 2021. Prepare the necessary journal entries for the years ending December 31, 2019, 2020, and 2021.
Is the direct or indirect method used to report operating activities? What is the largest adjustment to net income in reconciling net income and cash flows from operations in the most recent year?
Compute the company's return on investment (ROI) for the period using the ROI formula stated in terms of margin and turnover.
Identify a way that John can turn potential fixed costs into variable costs. Expand on John's thought. How are the large losses related to fixed costs?
Describe the impact of each transaction on the balance sheet, and prepare an example of new balance sheet as of January 31.
If the restaurant uses the EOQ model, how many numbers of orders per year? How does this compare to the current reorder policy
Prepare the direct labor budget for the next two months, assuming that the direct labor work force is fully adjusted to the total direct labor-hours.
ProChem manufactures aspirin in a process operation. Details on production activity follow.
A firm has recently purchased equipment at $250,000 with a CCA rate of 25%. Under the Half Year rule, what is the amount of depreciation
Grebe becomes insolvent in the current year and is adjudged bankrupt. Karen was the president of Grebe Corporation and was paid an annual salary of $50,000 for the past three years. Karen has no other employment. How will Karen treat her losses for t..
How accountants can utilize data analytics to deliver value to the employers or their clients. Data analysis and data mining have become increasingly important.
What are budgeted cash receipts in May? Blue Company has forecast sales to be $410,000 in February, $540,000 in March, $580,000 in April
Prepare journal entries showing the flow of costs through the two processing departments during
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