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Question - On January 2, 2016, Alpha Company purchased a patent for $38,500 plus $2,000 in legal fees. On that date, the patent had a remaining legal life of 13 years. Alpha Company expects to use the patent for six years. Use this information to prepare the General Journal entry (without explanation) for December 31, 2016 end of the year adjusting entry. If no entry is required then write "No Entry Required."
Hughey Co. as lessee records a capital lease of machinery on January 1, 2011. The seven annual lease payments of $350,000 are made at the end of each year.
Harvey Harrison has a basis of $30,000 for his partnership interest. What is Harvey's gain or loss on the distribution? What is his basis for the land
Explain how these histograms demonstrate what the Central Limit Theorem says about the sampling distribution model for sample proportions. Be sure to talk about shape, center, and spread.
The motel has annual fixed costs of $345,000 and variable costs averages $15.00 per room occupied. a. Calculate the motel's breakeven level and its occupancy percentage.
Complete the payroll sheet and make the necessary entry to record the payment of the payroll. Make the entry to record the payroll tax expenses of Otis Import Company.
what are the four symbols used in a data flow diagram and what does each of the symbols mean? and what is the
Write a 700- to 1,050-word essay answering the following questions: What risks do you face as an individual. How insurance companies help you mitigate risk
How many units should the firm order at a time if it wants to minimize the sum of ordering and carrying costs
John Meeks Company is a medium-size manufacturing company with plants in three small mid-Atlantic towns. The company makes plastic parts for automobiles and trucks, primarily door panels, exterior trim, and related items.
What specific control procedures (in addition to separation of duties and responsibilities) should be in place and operating in internal controls governing.
Mark Hancock is a self employed attorney who operates his law practice as an unincorporated sole proprietorship. In 2010, the IRS disallowed several business deductions he took in 2007 and 2008. In addition to paying the deficiency and assessed pe..
The present value of these cash flows, discounted at Harrel"s market interest rate, is $2,800,000. At what amount should the patent be carried on the December 31, 2011 balance sheet?
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