On February 1st of Year 1, Jayhawk Corporation purchases a copyright for $3 million. What amount can Jayhawk Corporation deduct on their tax return for amortization in Year 1? O a. $0 (a copyright is not an amortizable asset). O b. $300,000. O c. $200,000. O d. $183,337.

Q: the concept of globalization

A: Globalization connects the economies of the whole world by removing trade barriers and enabling them…

Q: Explain the difference between the terms FOB destination and FOB shipping point.

A: Inventory at the end of financial year to be shown in balance sheet , should means the inventory ,…

Q: Define the term Approval of payment requests?

A: The payment is an amount of money paid by the customer to the seller in exchange of goods and…

Q: Explain IO and PO Strips?

A: Interest only (IO) strips are a financial product shaped by unraveling the principal and interest…

Q: EBIT

A: EBIT is a measure used by companies to calculate their overall profitability. EBIT stands for…

Q: What is internalization?

A: Internalization: It happens when an individual directs an exchange itself, as opposed to sending it…

Q: Understand important international issues that arise in transfer pricing.

A: Transfer pricing:   Transfer pricing refers to the setting of prices for goods and services that are…

Q: What is an agency order?

A: Solution- Agency order An order to buy or sell that a broker executes with another investor. The…

Q: How is materiality concept applied?

A: Accounting principles:

Q: what is classified as a exchange transaction?

A: An exchange transaction in accounting is defined as a transaction in which each party receives and…

Q: What are the types of external user?

A: Entity needs to prepare a financial statement for the use of internal and external decisions making.…

Q: What is skimming?

A: Skimming: It is the fraudulent process under which the employees of the company steal the cash from…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.