Victor Company purchased a patent for $250,000 at the beginning of 2011, and estimated that its expected useful life was 10 years. The patent has a legal life of 20 years. What amount should be recorded as amortization expense for the patent in 2011?
A) $ -0-
B) $ 8,333
C) $12,500
D) $25,000
D
You might also like to view...
Adonis Corporation issued 10-year, 8% bonds with a par value of $200,000. Interest is paid semiannually. The market rate on the issue date was 7.5%. Adonis received $206,948 in cash proceeds. Which of the following statements is true?
A. Adonis must pay $200,000 at maturity and no interest payments. B. Adonis must pay $200,000 at maturity plus 20 interest payments of $7,500 each. C. Adonis must pay $206,948 at maturity plus 20 interest payments of $8,000 each. D. Adonis must pay $200,000 at maturity plus 20 interest payments of $8,000 each. E. Adonis must pay $206,948 at maturity and no interest payments.
Commercial sources of information typically legitimize and evaluate products for buyers
Indicate whether the statement is true or false
Which of the following is not a technology for enabling proximity marketing?
A. Lens Studio B. NFC C. BLE D. QR codes
A factor in determining the rate of return on investment--the ratio of sales to invested assets--is called:
A) profit margin B) indirect margin C) investment turnover D) cost ratio