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 How much is withdrawn in each trip?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

  Barring any unusual circumstances during the year the board

most corporations pay quarterly dividends on their common stock rather than annual dividends. barring any unusual

  Compute the amount of profit the company

Compute the amount of profit the company will have for a month in which the company sells 275 lawnmowers.

  Impact of and responses to globalised big business

Impact of and responses to globalised ‘Big Business' on national and regional cultures - Describe and explain THREE forms or types of impact that Big Business.

  Prepare the journal entry to record transaction for jupiter

Jupiter Company sells goods on January 1 that have a cost of $500,000 to Danone Inc - Prepare the journal entry to record this transaction at the date of sale

  Part of cost of goods

The inventory cost flow assumption in which the oldest costs incurred become part of cost of goods sold when units are sold is

  Effect of cash dividend and stock split

Effect of cash dividend and stock split - affect Indigo Inc.'s total assets, liabilities, and stockholders' equity

  Method of amortising discounts and premiums

The firm uses the effective interest method of amortising discounts and premiums. The bonds were sold to yield an effective interest rate of 10%.

  Present value of future sales

A new ice cream machine has been added to Dairy Queen - It is expected to add $100,000 in sales in year 1 increasing by $25,000 per year thru year 10 ( 10years total) what is the present value of these future sales if interest is 8%

  Anderson manufacturing makes a single product

Anderson Manufacturing makes a single product.

  Abbey is much more creditworthy and has various line

Abbey is much more creditworthy and has various line

  Make a one to two 1-2 paragraph journal entry which

prepare a one to two 1-2 paragraph journal entry that examines your learning experiences with orion in week 10 of this

  Ray company disclosed the following condensed income

On January 1, 2010 Doe Company purchased 3,000 of the 10,000 common shares outstanding of the Ray Company for $15 per share and obtained significant influence.

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!

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