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Software Cost Case
Facts
Your company paid recently $90,000 to purchase a license for 3 years to use generic cloudbased software to account for its various leases. It also paid a third-party consultant an additional $20,000 to customize the software for its use.
Research Issue(s):
Can the $20,000 paid to the external consultant to customize the software be capitalized?
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Flint, an S corporation with substantial AEP, reports operating revenues of $410,000, taxable interest income of $390,000, operating expenses of $260,000, and deductions attributable to the interest of $150,000. Calculate any passive investment incom..
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eBay’s footnote regarding employee stock compensation details the grant of 2 million options during the year of 2013, the fair-value of which was computed as $15.39. If the options have, on average, a four-year vesting schedule and the company faces ..
Crossway Outfitters is a retailer, Using the retail inventory method, estimate the cost of inventory at the year-end and the amount of cost of goods sold.
Present a schedule showing how the December 31, 2021 investment balance on Palmetto's books, shown in its trial balance, was calculated.
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