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Logan Company incurred $3,000,000 ($800,000 in 2009 and $2,200,000 in 2010) to develop a computer software product. $1,000,000 of this amount was expended before technological feasibility was established in early 2010. The product will earn future revenues of $8,000,000 over its 5-year life, as follows: 2010 – $2,000,000; 2011 – $2,000,000; 2012 – $1,600,000; 2013 – $1,600,000; and 2014 – $800,000. What portion of the $3,000,000 computer software costs should be expensed in 2010?
Calculate the total amount of a cash dividend of $1.00 per share. What accounts for the difference between issued shares and outstanding shares?
Del's Diner anticipated that 84,000 process hours would be worked during an upcoming accounting period when, in fact, 90,000 hours were actually worked. Illustrate what is Del's flexible budget for the preceding cost formula?
What kind of an accounting change is this? It indicates that TimeWarner rapidly changed its position with regard to these lawsuits. Is this a change in accounting principle?
Analyze the budget variance by calculating the direct labor efficiency and rate variances for June. What alternatives to the preceding monthly report could improve control over the stamping departments direct labor?
What is the amount of total income recognized in the 2014 income statement solely as a result of these bonds?
Calculate the amount Dennis may deduct as travel expenses for the trip. Dennis, the owner of Dennis Company, incurs the following expenses while away from home on a three-week business trip during the current tax year
Prepare journal entries for each event and adjusting entries.
Briefly explain what is meant by the principle of adequate disclosure and How does professional judgment enter into the application of the principle of adequate disclosure?
Evaluate the total interest expense for 2010 and Will the bond proceeds always be less that the face amount of the bonds when the contract rate is less that market rate of interest?
It sold 150 units for $45 each from March 1 through December 31. If the company uses the Last-In, First-Out inventory costing method, illustrate what is the amount of Cost of goods sold on the December 31 income statement
Big Company manufactures keyboards. Management wishes to develop budgets for the upcoming quarter based on the following data: Calculate the budgeted quantity of plastic which needs to be purchased for the next quarter.
Find the Straight-line depriciation method and The Double-declining depriciation method
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