1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Assume that Wal-Mart Stores, Inc. has decided to surface and maintain for 10 years a vacant lot next to one of its stores to ser
Kryger [21]

Answer:

Bid A should be accepted

Explanation:

Bid A:

initial investment = $5.75 x 12,000 = -$69,000

cash flows years 1 - 4 = $0.25 x 12,000 = -$3,000

cash flow year 5 = -$69,000

cash flows years 6 - 9 = $0.25 x 12,000 = -$3,000

NPV using a 9% discount rate = -$129,881.21

Bid B:

initial investment = $10.50 x 12,000 = -$126,000

cash flows years 1 - 9 = $0.09 x 12,000 = -$1,080

NPV using a 9% discount rate = -$132,474.87

3 0
3 years ago
Your boss has given you permission to order new office supplies answer
Gre4nikov [31]
Wow! If my boss is this generous, I will first thank him or her. After that, I will make a list of the office supplies I will need to be more productive at work. Note that not all supplies may be granted so don't keep your hopes up. The next thing I'll do is to have him acknowledge the list I made and thank him for giving me this opportunity.

So let us note what we have to do:
1) Thank your boss.
2) List down the office supplies you need.
3) Have your boss authorize the list and thank him or her once again.
4 0
2 years ago
Read 2 more answers
The Baldwin Company currently has the following balances on their balance sheet: Total Assets $167,705 Total Liabilities $69,461
Andrews [41]

The common stock next year would be $32546

The total assets (current) =  $167,705

Total assets (next year) = $167,705 +  $55,000 = $222705

The total liabilities (current)=  $69,461

The total liabilities (next year)=  $69,461

The total retained earnings (current) = $88,498

The total retained earnings (next year) = $88,498 + 44,200 - $12000 = $120698

<u>Common stock (current)</u>

=  $167,705 - $69,461-$88,498

= $9746

<u>Common stock (next year)</u>

= $222705 - $69,461 - $120698

= $32546

The common stock next year would be $32546

Read more on common stock:

brainly.com/question/25749153

5 0
2 years ago
anson Corporation Co.'s trial balance included the following account balances at December 31, 2018: Accounts receivable $12,000
VashaNatasha [74]

Answer:

Current Assets = $85,000

Explanation:

                         Anson Corporation

                     Balance Sheet (Partial)

                   As at December 31, 2018

Assets

Current Assets:

Accounts receivable      $12,000

Inventories                       40,000

Treasury Bill                     30,000

<u>Prepaid insurance              3,000</u>

Total current assets     $85,000

Prepaid insurance $6,000/2 = $3,000 is for current years. Therefore, $3,000 is a current assets. Since treasury bill is an investment and for 3 months, it is a current assets.

5 0
3 years ago
Accounts Receivable has a balance of $5,000​, and the Allowance for Bad Debts has a credit balance of $420. The allowance method
ElenaW [278]

Answer:

Net realizable value of Accounts Receivable is $4,580

Explanation:

Balance in allowance for uncollectible account= Balance before write off - Account written off

=$420 - $140

=$280

Net realizable value of accounts receivable is:

Particular                                                Amount

Accounts Receivable balance               $5000

Less: Account written off                         <u>$140</u>

Balance after write off                             $4860

Less: Allowance for uncollectible          

account from step 1                                  <u>$280</u>

Net realizable value                                <u>$4,580</u>

4 0
3 years ago
Other questions:
  • Some companies intentionally manufacture their products with materials or components that will break, wear, rust, or rot sooner
    8·1 answer
  • What is corporate image or corporate identity
    13·1 answer
  • Megan Brink is offered the possibility of investing $6,651 today at 6% interest per year in a desire to accumulate $10,000.
    13·1 answer
  • n an oligopoly market, collusion between firms usually leads to higher profits than does noncooperative behavior. Howeve r, form
    5·2 answers
  • A major bank has an application where customers can see their balances in their checking accounts, the positions in their broker
    5·1 answer
  • The most effective query to find out who won the World Series in 2010 is _____.
    13·2 answers
  • Bob is a recognized french horn player. Bob has played for several major symphonies. Last year Bob went through bankruptcy and i
    15·1 answer
  • What industries are presented in your community. How would you define the economic health of your community based on the industr
    8·1 answer
  • You believe that the future value of the Australian dollar will be determined by purchasing power parity (PPP). You expect that
    14·1 answer
  • A notepad company is looking to repackage and reposition its small notepads. It is thinking of coloring the pages yellow, resizi
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!