Answer:
Software development to be recognized = Cost incurred after achievement of technological feasibility = $400,000
Explanation:
Useful life = 4 years
Annual amortization = $400,000 / 4 years = $100,000
Period of amortization in 2016 = July 1, 2016 to December 31, 2016 = 6 months
Year 2016 amortization = $100,000 × 6 months/12 months = $100,000 × 1/2 = $50,000
Answer:
Product
Explanation:
The benefits offered by the product and all its features need to be understood and the unique selling proposition of the product need to be present to capture the consumer.
Answer:
$78,000
Explanation:
The computation of interest at year end is shown below:-
Interest at year end = Cash contribution + Income of partnership + Share of partnership liabilities - Cash from the partnership
= $50,000 + $20,000 × 50% + $60,000 × 50% - $12,000
= $90,000 + $10,000 + $30,000 - $12,000
= $78,000
Therefore for computing the partnership interest at year end we simply applied the above formula by considering all the items given in the question