Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the followi Patent with 4 remaining years of legal life Goodwill Required: a. Compute the annual amortization expense for these items. b. Record the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements r Complete this question by entering your answers in the tabs below. Required A Required B Compute the annual amortization expense for these items. Amortization expense per year $ 34,500 43,100 Required A Required B >

Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the followi Patent with 4 remaining years of legal life Goodwill Required: a. Compute the annual amortization expense for these items. b. Record the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements r Complete this question by entering your answers in the tabs below. Required A Required B Compute the annual amortization expense for these items. Amortization expense per year $ 34,500 43,100 Required A Required B >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Adjusting entries: 1. Carol Company has insured its building and a truck with Insular Insurance Co. The following data related to the insurance coverage and premium payments. Annual premium was paid on June 1, 2017 Property Insured Date of Coverage Annual Premium Paid Building Truck June 1, 2017- June 1, 2020 June 1, 2017 - June 1 ,2018 36,000.00 12,000.00 a. If Carol Company use the asset method in payment of insurance, What would be the adjusting entry on December 31, 2017? ADJUSTING ENTRY; EFFECT IF NO ADJUSTING ENTRY MADE Asset Revenue Expense Net Income Liabilities Owner's equity b. If Carol Company use the expense method in payment of insurance, What would be the adjusting entry on December 31, 2017? ADJUSTING ENTRY; EFFECT IF NO ADJUSTING ENTRY MADE Asset Liabilities Revenue Expense Net Income Owner's equity How much is expense portion? How much is the asset portion?
14. Determine the numerical value of the factor (F/A, 5%, 10). A 0.1295 0.0795 12.5779 D 7.7217 B.
Question 3: When is an employer NOT required to file a quarterly Form 941? Answer: А. O When annual tax liability for federal income, Social Security, and Medicare tax is less than $1,000 В. O When annual tax liability for federal income, Social Security, and Medicare tax is less than $1,500 С. O When annual tax liability for federal income, Social Security, and Medicare tax is less than $2,500 D. When annual tax liability for federal income, Social Security, and Medicare tax is less than $100,000
Bumgardner Incorporated has provided the following data concerning one of the products in its standard cost system. Inputs Direct materials Standard Quantity or Hours per Unit of Output 8.0 liters Standard Price or Rate $ 5.00 per liter The company has reported the following actual results for the product for April: Actual output Raw materials purchased 7,400 units 65,400 liters $ 5.70 per liter 59,210 liters Actual price of raw materials Raw materials used in production The raw materials price variance for the month is closest to: (Round your intermediate calculations to 2 decimal places.)
The following information is provided for the first month of operations for Legal Services Inc.: A. The business was started by selling $103,000 worth of common stock. B. Six months' rent was paid in advance, $4,100. C. Provided services in the amount of $1,500. The customer will pay at a later date. D. An office worker was hired. The worker will be paid $277 per week. E. Received $520 in payment from the customer in "C". F. Purchased $300 worth of supplies on credit. G. Received the electricity bill. We will pay the $120 in thirty days. H. Paid the worker hired in "D" for one week's work. I. Received $130 from a customer for services we will provide next week. J. Dividends in the amount of $1,800 were distributed. Prepare the necessary journal entries to record these transactions. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. A. B. 111
un.3
9. Joba Corporation issued $1,000,000 of 13% (stated rate) bonds payable on January 1, 2020, due on January 1, 2028, with interest payable each January 1. Investors require an effective-interest rate (market rate) of 10%. Calculate the amount of discount or premium that will be recognized when the company issues the bonds (indicate the amount and wither its discount or premium).
Now, assume that the state of the limit order book is as follows just before the call of CBA's opening call auction: Buy Quantity Price $8.08 $8.01 $7.99 $7.96 $7.91 $7.87 $7.84 $7.82 0 0 0 a. $7.96 O b. $8.01 O c. Other O d. $7.99 e. $7.91 1800 800 1100 1900 800 Sell Quantity 1600 1800 1200 0 0 0 0 If no more orders are entered, the call price would be:
Round 1.1235 to the nearest tenth. O 1.12 O 1.2 1.0 1.1