On October 1, 2018, Northern Company purchased a patent for $211,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only 10 years. The patent has no residual value. What will be the balance in the patent account on September 30, 2019?
A) $189,900
B) $211,000
C) $200,450
D) $105,500
A) $189,900
You might also like to view...
Compare and contrast the purpose of a test market and a control market, explaining how the two function together
What will be an ideal response?
Assume that you are a regular customer of a clothing store.Which of the following best describes the predictive analytics component used by the store to make you a more valuable customer?
a. Storing information about you and loading it into data warehouses b. Investigating correlations, sampling customer data, and summarizing data c. Determining the clothing item that you will most likely order on your next visit d. Offering coupons or discounts to maximize sales or profits
Osage Corporation began business operations and experienced the following transactions during Year 1:1) Issued common stock for $25,000 cash2) Issued a $20,000, 6% 4-year note to the bank on February 13) Provided services to customers for $80,000 cash4) Paid $38,000 for operating expenses5) Accrued interest expense on the note6) Paid a $4,000 dividend to shareholdersRequired:Record the above transactions on a horizontal financial statements model to reflect their effect on Osage's financial statements. In the last column, enter OA, IA, FA for the type of cash flow activity, or NA if there is no activity.
What will be an ideal response?
A functional dependency in which one or more nonkey attributes are functionally dependent on part, but not all, of the primary key is called a ________ dependency
A) partial key-based B) partial functional C) cross key D) merged relation