Question: On September 30, 2024, Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February

 On September 30, 2024, Athens Software began developing a software program
to shield personal computers from malware and spyware. Technological feasibility was established
on February 28, 2025, and the program was available for release on

On September 30, 2024, Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February 28, 2025, and the program was available for release on April 30, 2025. Development costs were incurred as follows: Athens expects a useful life of four years for the software and total revenues of $5,400,000 during that time. During 2025 , revenue of $1,080,000 was recognized. Required: 1. Prepare a journal entry to record the development costs in each year of 2024 and 2025. 2. Calculate the required amortization for 2025 . 1. Prepare a journal entry to record the development costs in each year of 2024 and 2025 . 2. Calculate the required amortization for 2025 . Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a journal entry to record the development costs in each year of 2024 and 2025. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. Prepare a journal entry to record the development costs in each year of 2024 and 2025. 2. Calculate the required amortization for 2025. Answer is not complete. Complete this question by entering your answers in the tabs below. Calculate the required amortization for 2025

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!