On january 1, 2021, weaver corporation purchased a patent for $237,000. the remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. in january 2023, the company incurred legal fees of $57,000 in successfully defending a patent infringement suit. the successful defense did not change the company’s estimate of useful life. weaver corporation’s year-end is december 31. required: 1. record the purchase in 2021; amortization in 2021; amortization in 2022; legal fees in 2023; and amortization in 2023.

The next dividend payment by savitz, inc., will be $2.08 per share. the dividends are anticipated to maintain a growth rate of 6 percent forever. if the stock currently sells for $42 per share, what is the required return?

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

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