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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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Answer:

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Investing Activities Section of the Statement of Cash Flows:

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Explanation:

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Balance Sheet of Corinne company at the end of 2025 and 2024:

                                                 2025        2024

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Buildings and equipment         200           150

Accumulated depreciation

- buildings and equipment      (36)            (16)

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Retained earnings                     56              10

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b) other information:

Land and Common Stock exchange

Equipment sold for $12 (cost $10 and book value $8)

Cash dividends $20

c) Equipment account

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Equipment sold        -8

Balance                   142

Closing balance    200

Purchase of new     58 (200 - 142)

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