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lakkis [162]
3 years ago
6

Crank Co. is a software developer that has accumulated costs related to developing a software application for internal use. The

development is past the preliminary project stage and into the application development stage. Which section of the Accounting Standard Codification best helps Crank's controller determine the proper accounting treatment of the application development stage costs? Enter your response in the answer fields below. Guidance on correctly structuring your response appears above and below the answer fields. Unless specifically requested, your response should not cite implementation guidance.
Business
1 answer:
lawyer [7]3 years ago
7 0

Answer:

Trial balance

Explanation:

I think the best Accounting Standard Codification that will help Crank's controller determine the proper accounting treatment of the application development stage costs is the trial balance.

It will help them to know the amount they have spent so far on the development of the software.

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AJ Manufacturing Company incurred $54,000 of fixed product cost and $43,200 of variable product cost during its first year of op
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Answer:

Explanation:

The preparation of the income statement is presented below using the generally accepted accounting Principles (GAAP) :

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Less: Cost of goods sold ($97,200)         ($54,000 + $43,200)

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3 years ago
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