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On September 30, 2016, Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February 28, 2017, and the program was available for release on April 30, 2017. Development costs were incurred as follows: September 30 through December 31, 2016 $ 2,200,000 January 1 through February 28, 2017 800,000 March 1 through April 30, 2017 400,000 Athens expects a useful life of four years for the software and total revenues of $5,000,000 during that time. During 2017, revenue of $1,000,000 was recognized. Required: 1. Prepare the journal entries to record the development costs in 2016 and 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Prepare a financial statement that explain the differences between the beginning and ending balances for the accounts in the Stockholders' Equity category of the balance sheet.
Compute the physical units of production and compute equivalent units of production for materials and for conversion costs.
Write a report to the owners detailing ALL the different options and considerations that you feel the owners should consider raising the $60 million.
Which of the following is not a unit-level activity?
Compute the companys monthly break-even point in units of product and what would the company's monthly net operating income be if sales increased by 25% and there is no change in total fixed expenses?
Prepare an overhead budget for the expected activity level for the coming year and Prepare an overhead budget that reflects production that is 25 percent lower than expected.
On April 4, 2015, mexco sold stock it held as an investment. It had 300000 short term capital loss on the sale. It also sold a building, equipment, and the land under the building on July 1, 2015. Information about each asset is presented below. Mexc..
On September 1, Rockwell Co. issued at a premium $2,000,000 of 20-year, 15% bonds, dated August 1, for $2,240,000 and accrued interest of $25,000; (total cash paid $2,265,000). The bonds were purchased by IBM Corporation. Interest is payable semiannu..
Where does the Pain in Dividends go? If you can answer using my set up or help me on where the numbers go, THat will be great.
Bradford Company budgeted 4,750 pounds of material costing $6.5 per pound to produce 2,375 units. The company actually used 12,000 pounds that cost $6.6 per pound to produce 3,500 units. What is the direct materials quantity variance?
One of an accounting firm's basic objectives is to provide professional services that conform to professional standards. To determine whether the entitiy has changed any accounting princioles. Ordinarily what source of evidence should least affect au..
In a bank reconciliation, deposits in transit should be which of the following: Deducted from the balance per books Deducted from the balance per bank statement Added to the balance per ledger.
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