with the correct answer only , please help will thumbs up Amortizing Software Development Costs During the
Fantastic news! We've Found the answer you've been seeking!
Question:
with the correct answer only , please help will thumbs up
Transcribed Image Text:
Amortizing Software Development Costs During the year, the E-Software Company capitalized computer software costs in the amount of $400,000. Also during the year, which is the first year the product is released to sell, the company's sales total $200,000. Estimated future sales for the remaining three-year life of the product are $1,400,000. Record the amount of amortization of capitalized computer development software costs for the year. Date Dec. 31 Check Account Name Dr. Cr. 0 0 0 0 0 Amortizing Software Development Costs During the year, the E-Software Company capitalized computer software costs in the amount of $400,000. Also during the year, which is the first year the product is released to sell, the company's sales total $200,000. Estimated future sales for the remaining three-year life of the product are $1,400,000. Record the amount of amortization of capitalized computer development software costs for the year. Date Dec. 31 Check Account Name Dr. Cr. 0 0 0 0 0
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
You make a one-time investment of $400 and leave it for 5 years, earning an annual interest rate of 7%. How much interest will you have earned after 5 years? If you leave the entire amount in your...
-
The Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts ............ $...
-
The accounting and internal control procedures relating to purchases of materials by the Branden Company, a medium- sized company that manufactures special machinery to order, have been described by...
-
How would lack of trust between the board and the chief executive manifest itself ? What would be the consequences for the organization?
-
Polzin Company had sales in 2010 of $1,500,000 on 60,000 units. Variable costs totaled $840,000, and fixed costs totaled $500,000. A new raw material is available that will decrease the variable...
-
The following formula is the mathematical expression of Bayes' law. How does this formula apply to perceptual processes? (1 = image, Sx = stimulus) P(Sx| 1) - P(I | Sx) P(Sx) 1 pts It shows that the...
-
1. A system has a one dimensional pupil function given by P(x) = Rect() given an aperture of radius \(a). The object is assumed to be coherent, monochromatic, with a wavelength, A, a distance \(d)...
-
Walmart has an expected return of 23% and a standard deviation of 14%. Microsoft has an expected return of 44% and a standard deviation of 24%. The correlation between Walmart and Microsoft is 0.7....
-
Assume the Capital Asset Pricing Model is true. The risk-free rate is 2% and the market risk premium is 7%. What is the alpha of the market?
-
On January 10, 2000 AOL announced the acquisition of Time Warner (TWX), in which 1.5 shares of AOL were exchanged for 1 share of TWX. The table below describes the pre-merger values: Share Price...
-
On January 1 , Year 1 , Jing Company purchased office equipment that cost $ 1 5 , 5 0 0 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $ 1 , 6 0 0 . The...
-
1. Compute the actual and budgeted manufacturing overhead rates for 2017. 2. DuringMarch, thejob-cost record for Job 626 contained the followinginformation: Direct materials used $40,000, Direct...
-
You're in a single line of business, so you don't need a grand strategy or a portfolio analysis. Think about your product's life cycle, and develop competitive strategies and adaptive ones for your...
-
Describe a group you belong or have belonged discuss the stages of group development and suggest how to improve the group effectiveness by using the group development model.
-
Use of a payroll service bureau or a PEO provides all of these benefits except which of the following? a. integration of payroll and personnel data, such as job skills b. lower cost of processing...
-
Which document lists the components needed to manufacture a specific product? a. operations list b. master production schedule c. bill of materials d. production order
-
This chapter noted many of the benefits that can arise by integrating the HRM and payroll databases. Nevertheless, many companies maintain separate payroll and HRM information systems. Why do you...
Study smarter with the SolutionInn App