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Questions -
Q1. Sunland Co. acquires 3 patents from Shaq Corp. for a total of $390000. The patents were carried on Shaq's books as follows: Patent AA: $5400; Patent BB: $1550; and Patent CC: $2700. When Sunland acquired the patents their fair values were: Patent AA: $20000; Patent BB: $210000; and Patent CC: $50000. At what amount should Sunland record Patent BB?
$292500
$260000
$1550
$130000
Q2. On January 1, 2014, Blossom Company purchased a copyright for $2468000, having an estimated useful life of 16 years. In January 2018, Blossom paid $351000 for legal fees in a successful defense of the copyright. Copyright amortization expense for the year ended December 31, 2018, should be
$154250.
$183500.
$0.
$176188.
Its average total assets in Year 1 were $262,000 and $313,000 in Year 2. Calculate the cash flow on total assets ratio for both years
The percentage complete for the beginning and ending inventory is an important figure. Why has Virginia violated any ethical area of accounting?
Identify which ones are revenue or expenses and the combined rev and get a total and combined expenses and get a total then subtract and get you Net
Radiant Systems allocates manufacturing overhead based on machine hours. Calculate the variable overhead cost variance for tRadiant
Brad's BBQ reported sales of $840,000 and net income of $38,500. Calculate the return on assets. Calculate the profit margin
wryski corporation had net operating income of 150000 and average operating assets of 500000. the company requires a
at the main street theater the cashier located in a box office at the entrance receives cash from customers and
given the following information for jane cole complete schedule d of form 1040 through part iii. stock options which
If Bestway estimates that 2% of credit sales will be uncollectible, what is the required journal entry to record estimated uncollectible accounts
provide brief but complete i.e. succinct responses to the following1. name the two groups with claims on a companys
Spacely Space Sprockets, Inc. was incorporated in Arkansas, and it has filed consolidated federal income tax returns as the parent corporation of an affiliated group of corporations since 1988. It is an accrual-basis, calendar year corporation.
Molino Inc. reported sales revenue of $2 million for 2017. Compute cash receipts from customers, assuming that the receivable and payable transactions.
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