User Account

All Pages

Explain the appropriate method for determining the amount

Assignment Help Accounting Basics
Reference no: EM13999065

The Elegant Software Company recently completed the development and testing of a new software program that provides the ability to transfer data from among a variety of operating systems. The company believes this product will be quite successful and capitalized all of the costs of designing, developing, coding, and testing the software. These costs will be amortized over the expected useful life of the software on a straight-line basis.

Required:

1. Was Elegant correct in its treatment of the software development costs? Why?

2. Explain the appropriate method for determining the amount of periodic amortization for any capitalized software development costs.

Reference no: EM13999065

Questions Cloud

How is the fixed asset turnover ratio computed : How is the fixed-asset turnover ratio computed? How would you interpret National's ratio of 2.87?
Characteristic of sound : Cymatic Lighting or "visual sound" uses lighting to give cues as to the characteristic of sound. Qualities of sound such as frequency and bountifulness are mapped to similar qualities of luminance and chromaticity via algorithms
Determine the probability of a spin flip in z : What are the eigenvalues for energy, and the corresponding eigenvectors? Determine the probability of a spin flip in z, i.e. calculate P+ = | |2 and sketch your result as a function of t.
Write a research paper about brain damage : Write a research paper about brain damage and it's effect on cognition. You may not copy any part of the reviewed journal article verbatim, with or without source crediting
Explain the appropriate method for determining the amount : Explain the appropriate method for determining the amount of periodic amortization for any capitalized software development costs.
Access edgar on the internet : What has been the most significant financing activity for the company in requirements 2-6 for another company?
What a good job is for crawford : Put in your own words what a good job is for Crawford. Can you tie this conception to any of the 5 marks? Compose one question regarding this reading you would like to see discussed in class
Discuss some problem electronic mail systems : Discuss some problem Electronic mail systems need directories so people's email addresses can be lookedup. To build such directories, names should be broken up into standard components(e.g., first name, last name) to make searching possible.
Determine free cash flows for dell in each of the three year : Determine free cash flows for Dell in each of the three years reported. Compare that amount with net income each year. What pattern do you detect?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Brown corp purchased 20 of the outstanding common stock of

brown corp purchased 20 of the outstanding common stock of taylor corp for 250000 on january 1 2011. brown corp has

  On november 12 kendra inc a us company sold merchandise on

on november 12 kendra inc. a u.s. company sold merchandise on credit to nakakura company of japan at a price of 1540000

  Determine the breakeven point in sales dollarsdertemine the

ales46000000operating expensevariable expense 32200000 and fixed expense 7500000total expenses 39700000operating

  Problem regarding the cost relations

Determine whether each of the following is true or false. Explain why. A. Average cost equals marginal cost at he minimum efficient scale of plant. B. When total fixed cost and price are held constant, an increase in average variable cost will typi..

  Journal entries to record issuance of bonds

On the first day of the current fiscal year, $1,000,000 of 10-year, 7% bonds, with interest payable semiannualy were sold for $1,050,000. Present entries to record the following transactions for the current fiscal year:

  Cordova leather liabilities

1.  At December 31, 2014, Cordova Leather's liabilities include the following:

  Efficiency in the use of resources

Suppose you have more books than you want but would like to have more sporting goods. Explain how your well-being would be affected if a law existed preventing the trading of books for sporting goods. How would such a law affect efficiency in the ..

  Mikhail chordan purchased a piece of gold furniture worth

mikhail chordan purchased a piece of gold furniture worth 278000 for his office on october 15 2012. assuming i mikhail

  Calculating the market value and profitability

The paper and forest products industry is dominated by large integrated manufacturers. According to data from the Census of Manufacturers, roughly 50% of industry output comes from giant plants with more than 500 employees. This is despite the fac..

  Dividing llc net income and statement of members equity

dividing llc net income and statement of members equitymedia properties llc has three members kxt radio partners rachel

  Compute the incremental costs of upgrading the material

Beck Company is concerned about quality and is considering upgrading the materials used in its product to a higher quality. Doing so would cost an additional $1.65 per unit.

  With the rise of the ''knowledge economy

Discuss whether or not you believe human capital should be assessed and reported in the financial statements. Identify how you are defining human capital.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd