Early in 2011, the Excalibur Company began developing a new software package to be marketed. The project
Question:
Required:
1. Prepare a journal entry to record the 2011 development costs.
2. Calculate the required amortization for 2012.
3. At what amount should the computer software costs be reported in the December 31, 2012, balance sheet?
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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