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Question - Van Frank Telecommunications has a patent on a cellular transmission process. The company has amortized the $21.60 million cost of the patent on a straight-line basis since it was acquired at the beginning of 2017. Due to rapid technological advances in the industry management decided that the patent would benefit the company over a total of six years rather than the nine-year life being used to amortize its cost. The decision was made at the end of 2021 (before adjusting and closing entries).
Required - What is the appropriate adjusting entry for patent amortization in 2021 to reflect the revised estimate?
The cost of inventories to subsidiary was $125 000. Which of the adjustments must be included as part of the consolidation entry to eliminate this transaction?
On 31 December 2018 the company made a 1 for 10 bonus issue. On 31 March 2019, Sipho sold 300 shares for R800. What is the new base cost of Sipho's holding
vista corporation which has current earnings and profits ceampp of 10000 and accumulated earnings and profits aeampp of
Investment banks provide an abundance of crucial services to the economy. The first important role of investment bank is to assist public and private corporations in raising funds for the capital markets. A second service is to provide strategic a..
Did the company achieve the target manufacturing cot per unit in 2019? Explain. Calculate the manufacturing cost( total per unit) for both year.
Determine whether management's assertion is supportable and how additional information obtained might change your conclusion
Question - Queensland Company makes radios that sell for $60 each. Calculate the break-even point in dollars using the contribution margin ratio
If the company sold half the inventory during April for $20,000, how much income would it recognize under each method
Carin, a widow, elected to recieve the proceeds of a $100,000 life insurance policy on the life of her deceased husband in 10 installments of $15,000 each. Her husband had prepaid premiums of $75,000 on the policy. In the first year, Carin collect..
What is the Ferguson's 2010 federal income taxes payable or refund, including any self-employment tax and AMT, if applicable
American Gold Exchange paid cash of $115,200 for computers. Calculate the amount of depreciation for month of October using straight-line depreciation method
stone co. began operations in year 1 and reported 225000 in income before income taxes for the year. stones year 1 tax
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