User Account

All Pages

What is the total amount of expenses

Assignment Help Accounting Basics
Reference no: EM13998965

1. On June 28 Lexicon Corporation acquired 100% of the common stock of Gulf & Eastern. The purchase price allocation included the following items: $4 million, patent; $3 million, developed technology; $2 million, in-process research and development; $5 million, goodwill. Lexicon's policy is to amortize intangible assets using the straight-line method, no residual value, and a five-year useful life. What is the total amount of expenses (ignoring taxes) that would appear in Lexicon's income statement for the year ended December 31 related to these items? 

Reference no: EM13998965

Questions Cloud

Proposed project make sense at a discount rate : Suppose Mayor Emanuel proposes a project that will cost $200,000 today, $100,000 next year and 15,000 to dispose of it in ten years when the project is completed. Once finished three years from today, it is expected to generate a net income of 40,000..
Optimal number of trips to the bank using baumol-tobin model : Suppose the nominal interest rate is i = 10%, the time cost of a round trip to the bank is $25 and annual expenditure is $72,000. Calculate the optimal number of trips to the bank using the Baumol-Tobin model. How much is withdrawn in each trip?
If the implicit cost of a ton of greenhouse gas : A large electric utility company releases 62 million tons of greenhouse gases in to the environment each year. A company has committed to spending $1.2 billion in capital over the next 5 years to reduce its annual emissions by 5%. More will be spent ..
Are faulty logical appeals being employed : An evaluation of the message's call to action and whether or not it effectively motivates the viewer or listener to act upon the message
What is the total amount of expenses : What is the total amount of expenses (ignoring taxes) that would appear in Lexicon's income statement for the year ended December 31 related to these items?
What is jealousy and what are different types of jealousy : What is jealousy and what are the different types of jealousies? What are the psychological dimensions of jealousy? Is jealousy always irrational? Can jealousy be based on fears
Calculate the total head loss in theclean filter : Calculate the total head loss in theclean filter if the loading rate and what is the required disinfection for the removal of Giardia cysts of the filtered water if free chlorine is used?
How much energy is transferred to the oxygen as heat : How much energy is transferred to the oxygen as heat? What fraction of the heat is used to raise the internal energy of the oxygen?
What is depreciation on the building : In 2011, the estimates of useful life and residual value were changed to 20 years and $500,000, respectively. What is depreciation on the building for 2011?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What method does tootsie roll use to value its inventory

Calculate the fixed asset turnover, the accounts receivable turnover, and the inventory turnover. The formula for fixed asset turnover is Net income divided by net fixed assets. Explain each turnover.

  Closed the revenue expense and dividend accounts

Inman Co. completed the following transactions in 2013, the first year of operation:

  The company depreciates assets using the straight-line

Assume the states between years are independent, an interest rate of 6%, and state 1 is realized in year 1. Show the balance sheet, income statement, and residual income / goodwill analysis for year 1.

  Following are the current asset and current liability

following are the current asset and current liability sections of the balance sheets for freedom inc. at january 31

  Job no 636 was the only job in process on january 1 of the

cost flows and overhead applicationcleveland metals uses a job cost system and applies factory overhead to production

  Capital budgeting emphasizes the key role management has

capital budgeting emphasizes the key role management has in value creation by taking projects and expanding the size of

  45-day note of harold stone.

45-day note of Harold Stone.

  Cash basis taxpayer gross income

Determine the effects of the following on a cash basis taxpayer's gross income for 2015 and 2016.

  On january 2 richie valens pauid 24000 for 980 shares of

on january 2 richie valens pauid 24000 for 980 shares of the common stock of acme company. mr. valens recieved an 0.84

  With the rise of the knowledge economy the traditional

with the rise of the knowledge economy the traditional valuation of an enterprise as consisting solely of measurable

  Explain financial accounting and management accounting

Explain financial accounting and management accounting, highlighting the differences between the two strands of accounting.

  Newly formed electronics services corporation

Newly formed Electronics Services Corporation has 100,000 shares of $10 par common stock authorized. On March 1, 2013, Electronics Services issued 20,000 shares of the stock for $12 per share.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd