A patent was purchased for $100,000 on January 1 . The estimated useful life is 5 years. The entry to record amortization for the first year would include a
a. debit to Patent Amortization, $20,000; b. debit to Patent, $20,000; c. credit to Cash, $100,000; d. debit to Patent Amortization, $100,000; e. credit to Cash, $20,000
A
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________ is the process by which a consumer or business customer begins to buy and use a new good, service, or idea
A) Commercialization B) Product testing C) Product adoption D) Diffusion E) Positioning
Which of the following remedies is available for misrepresentation?
A) injunction B) specific performance C) declaration D) rescission E) rectification
Tax deferral
A) is the same as tax avoidance. B) differs from tax avoidance but may also lower your tax payments because of the compounding effect of untaxed income. C) is a poor tax planning approach whenever you expect a future marginal tax rate lower than your current marginal rate. D) is illegal, while tax avoidance is legal.
Some contracting parties are intentionally vague in contract terms
Indicate whether the statement is true or false