Question: Amortizing Software Development Costs During the year, the E-Software Company capitalized computer software costs in the amount of $3,600,000. Also during the year, which

Amortizing Software Development Costs During the year, the E-Software Company capitalized computer

Amortizing Software Development Costs During the year, the E-Software Company capitalized computer software costs in the amount of $3,600,000. Also during the year, which is the first year the product is released to sell, the company's sales total $1,800,000. Estimated future sales for the remaining three-year life of the product are $12,600,000. Record the amount of amortization of capitalized computer development software costs for the year. Date Account Name Dec. 31 Amortization Expense Software Intangible Asset Dr. Cr. = x 1,200,000 * 1,200,000 x

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!