Salisbury Enterprises purchased a patent for $525,600 on August 1, 2018. It had a useful life of 15 years. On January 1, 2020, Salisbury spent $75,000 successfully defending the patent in a lawsuit. Salisbury feels that as of that date, the remaining useful life is 10 years. What amount should be reported for patent amortization expense for 2020

What type of budget is stated? a budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year.

The green revolution is a scientific breakthrough that improved seeds for basic crops. how did the green revolution impact the supply of basic crops such as wheat and corn? the supply of wheat and corn increased. there was no impact on the supply of basic crops. the supply of basic crops did not change, but the quantity supplied of basic crops increased. the supply of wheat and corn decreased.

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?