Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Cabey acquires usage right to the a one year oracle ERP service. The agreement with oracle allows Cabey to use the ERP for one year. During the initial six-month period of the agreement, oracle has filed for bankruptcy as it has learned that its accounting department was involved in an extremely high risk option instrument that has resulted in a loss of 32 billion dollars. Oracle has thus can't provide further upgrade and advise on the ERP. However Cabey has still to pay 20 % of the contract price regardless of the performance of oracle as the contract states that additional 20 % of the contract price shall be paid to oracle for advisory service and the payment is not depend on any other event other than the passage of time. The costs were incurred by the company:
Legal cost of acquiring the copyrights 10 million
Operational loss (20 % payment made) 2 million
Massive training campaign to launch the ERP 1 million
Required
Question 1: Which of the above items is a cost that can be capitalized as an intangible asset?
Question 2: Explain why a directly attributable cost should be include as a part of initial cost of PPE?
Question 3: Explain the two methods with examples Cost model and Revaluation model.
Cadavieco Detailing's cost formula for its materials and supplies is $2,030 per month plus $8 per vehicle. For the month of November, the company planned for activity of 98 vehicles, but the actual level of activity was 58 vehicles. The actual materi..
?Prepare the journal entry to record the Income tax expense and Income tax payable as well as any Deferred Tax Liability or Deferred Tax Asset.
On January 1, 2014, Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Record the 1/1/14 transaction for Fishbone and all necessary entries from 2014-2016. Re..
When processing a transaction in a computerized system updates more than one system (such as payroll), the system is “integrated” into other systems. Other than Payroll, what systems are also updated when Payroll is processed? What are the advantages..
A company records an unrealized loss on short-term securities. This would result in what type of difference and in what type of deferred income tax?
The correct adjusting entry for accrued and unpaid employee salaries of $8,000 on December 31
Assume Evon is the sole owner of the entity and ignore self-employment taxes. Explain how much would Evon keep after taxes if SHO is organized as either a C corporation or an LLC?
HFT 2401 - Hospitality Industry Financial Accounting Assignment Help and Solution - University of Central Florida, USA. What is the amount of book value
multiple choice questions on predetermined overhead rate.1. a company expected its annual overhead costs to be 600000
Financial Reporting Problem - What cash outflow obligations related to the repayment of long-term debt does P&G have over the next 5 years
National Bank, which demands interest on the note of 10% compounded semiannually. What is the amount Dubois will receive on the sale of the note?
Shosholoza has no preference shares. What will shosholoza marginal cost of capital be if it's total capital budgeting needs are R3 million for the year?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd