Blog

On January 1, 2017, Geodisc Company purchased a patent for $420,000 from an inventor who had developed a new manufacturing process. At the time of the purchase, the patent had a remaining useful life of 10 years and a legal life of 15 years.   At the end of 2020, after amortization had been recorded through December 31, 2020, Geodisc concluded that the estimated future cash flows from the patent to be $250,000. The patent’s estimated fair value on December 31, 2020 was $200,000. Compute the value of the patent impairment. (Note: please do not include commas or dollar signs in your response) 

Chicago Clock Corporation issued a 3-for-2 stock split of its common stock, which had a par value of $100 before the split. What dollar amount (state in numbers) of retained earnings should be transferred to the common stock account because of this stock split? (Note: please do not include commas or dollar signs in your response) 

[Region1] and [region2] countries/regions were the main cultural bridges of Middle Eastern (Southwest Asian) foods into Europe.

Choose two foods that were either discovered or largely harvested/grown in the “New World,” one from module 1-4 and one from the student research projects (the food cannot be from your own research project).  Where are these foods from? Who (which cultural group) brought them to the Mediterranean?

SELECT ALL THAT APPLY. Which of the following may be contributing to the patient’s complaint of declining cognition?

Anadhi Company had accounts receivable of $750,000 and an allowance for doubtful accounts of $21,500 just prior to writing off as worthless a customer’s $5,000 account receivable. What is the net realizable value of accounts receivable that Anadhi would report on its Balance Sheet before and after the write off? Write the value for before write off in the first box and write the value after write off in the second box (Note: please do not include commas or dollar signs in your response)

Select the foods that Arabs introduced into the Mediterranean.  Select all that apply.

Fill in the blank 3 questions. Write the word that best answers the question.  Write one word only.

Short Essay 4 essays.  This section gives you a chance to showcase what you’ve learned in class and from the reading assignments.  Consider both when responding.  It is not necessary to write ALL possible answers for some of the questions; limit your examples and expand on these to answer subsequent questions, depending on the nature of the question.  You are not required to cite sources BUT you are encouraged to cite evidence that backs up your claims. You will be asked use evidence to support your claims and may NOT repeat examples between questions. Repeated/reused examples will receive no credit. For each essay, write 3-4 sentences (75-125 words) that address the question(s), using complete sentences and correct grammar, punctuation, spelling (misspellings of ancient names/places are accepted!), etc.  Writing should be appropriate for a college level. This section is designed to assess your critical thinking, using themes and facts from class as base knowledge.

For the following transaction of XYZ Inc. during the month of March: Purchased Supplies inventory by paying cash Indicate how the following are affected at the time of the transaction (for each choose among the 3: I=increase, D=decrease, and N=no effect).       Total Assets [1] Total Liabilities [2] Net Income [3] Cash flow [4]