User Account

All Pages

What amount should byte report

Assignment Help Financial Accounting
Reference no: EM131106607

On December 31, 2009, Byte Co. had capitalized software costs of $600,000 with an economic life of four years. Sales for 2010 were 10% of expected total sales of the software.

At December 31, 2010, the software had a net realizable value of $480,000. In its December 31, 2010 balance sheet, what amount should Byte report as net capitalized cost of computer software?

Reference no: EM131106607

Questions Cloud

Explain both advocates position and the critics position : Evaluate both the advocates' position and the critics' position. Determine which position you support and defend your position. Cite a minimum of 3 peer-reviewed sources not including your textbook.
What percentage of original capitalized cost should report : At December 31, 2010, the software had a net realizable value equal to 90% of the capitalized cost. What percentage of the original capitalized cost should be reported as the net amount on Bit's December 31, 2010 balance sheet?
Interest rate of the bond : The maturity risk premium is estimated to be 0.2% x t , where t is equal to the maturity of the bond. The liquidity premium is 0.3% for Rodgers Inc bonds. The default risk premium is 3.2% for Rodgers Inc bonds. What is the interest rate of the bon..
Where you faced the challenge of communication : Take time to reflect on a specific experience you had in the workplace where you faced the challenge of communication apprehension. Think about how to overcome this challenge
What amount should byte report : At December 31, 2010, the software had a net realizable value of $480,000. In its December 31, 2010 balance sheet, what amount should Byte report as net capitalized cost of computer software?
Prepare the journal entry to record the acquisition : Briefly identify the possible alternatives (including those that are totally unacceptable) for quantifying the cost of the land and briefly support your choice.
Explain why expansionary monetary policy affects output : Explain why expansionary monetary policy affects output before it affects inflation. What is the interest rate if the Taylor rule is: r = 1.5 +1.75 + 1.25(π - πT)?
How much did the firm pay in taxes : A firm's net profit margin when ignoring the effects of financing is 20% with an EBIT of $1.52 million and sales of $5.2 million. How much did the firm pay in taxes?
Discuss two original examples of a perception of agency : Describe two (2) differences between pre-attentive and post-attentive processing. How are they related to the processes of subitizing and counting? Provide one (1) supporting fact.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Describe both similarities and differences in amortization

Prepare entries to record (a) the purchase of the land, (b) the cost and installation of machinery, (c) the first five months' depletion assuming the land has a net salvage value of zero after the ore is mined, and (d) the first five months' depre..

  Explain how the overhead costs were assigned to each job

How do you think Mrs. Lucky will feel when she receives the bill for the three sets of wedding announcements? Explain how the overhead costs were assigned to each job.

  Illustrate what is amount of impairment loss under us gaap

The following information was taken from the fixed asset records of Klein Inc., as of December 31, 2007: Illustrate what is the amount of Impairment Loss under US GAAP?

  Associations-organization is resource for accounting

Associations- Describe how this organization is a resource for Accounting. List at least five associations that would be useful for Accounting along with the URL or other location of information you found about them.

  Give an example of when stock ownership would be prohibited

Explain how the rules concerning stock ownership apply to partners and professional staff. Give an example of when stock ownership would be prohibited for each.

  Popper co acquired 80 percent of the common stock of cocker

popper co. acquired 80 percent of the common stock of cocker co. on 1st january 2009 when cocker had the subsequent

  What would be the effective rate of interest per month

If you were to accept the dealer’s offer, what would be the effective rate of interest per month the dealer charges on your financing?

  Construct two journal entries for actual costs

Construct two journal entries for actual costs incurred - one for variable overhead and one for fixed overhead.

  Calculate the average fixed maintenance

Management has asked you to calculate the average fixed maintenance cost per unit at an activity level of 8,200 units in a month. You checked and this new level of activity, like the previous, is within the relevant range.

  Determine the cost assigned to ending inventory

Application of LIFO, FIFO and Weighted Average method of Inventory System and evaluate the cost assigned to ending inventory and to cost of goods sold using a) specific identification

  Discussions with the accountant reveal

One area of exacting concern is the inventory account, which has a year-end balance of $297,000. Discussions with the accountant reveal the subsequent.

  Edgar a widower is a retired trade executive in 2011 edgar

edgar a widower is a retired trade executive. in 2011 edgar received 200000 in pension payments 30000 in interest from

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