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Day Corporation purchased a patent on January 1, 2012 for $360,000. The patent had a useful life of 10 years at that date. In January of 2013, Day successfully defends the patent at a cost of $162,000, extending the life of the patent to 12/31/24. What amount of amortization expense should be recorded in 2013?Show calculations.a. $36,000b. $40,500c. $43,500 d. $54,000
Q. Flexibility in Debt finance? Debt finance is more elastic than equity in that various amounts can be borrowed at a fixed or floating interest rate and for a range of maturit
liabilities and its types
explain virement
Interest Interest may be claimed-up to the date of the receiving order - if it is payable: By agreement; By statute; If the debt was created in writing and due at a
General limitations of Net Present Value when applied to investment appraisal NPV is a generally used technique employed in investment appraisal but is subject to a number of r
Prospective Financial Information (forecast and projection) - Forecast: Prospective financial statements which present, to the best of responsible party's knowledge and belief, an
The conflicting interests of users We have seen above that every user group looks at a business from a different perspective and has its own individual interests. This means th
Thomas Crown expects to earn the following stream of annual income for the next four years:- $41,000; $45,000; $38,000 and $50,000. Although he has adopted the ‘Pay Yourself Firs
DIVIDENDS Dividends must be declared and paid in accordance with the following rules: 1) The first dividend must be declared and paid within four months of the first meeting o
Long-term Debt 10% notes payable $1,000,000 7% convertible bonds payable 5,000,000 Discount
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