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Elan Coil [88]
3 years ago
5

Axcel Software began a new development project in 2020. The project reached technological feasibility on June 30, 2021, and was

available for release to customers at the beginning of 2022. Development costs incurred prior to June 30, 2021, were $3,370,000, and costs incurred from June 30 to the product release date were $1,570,000. The 2022 revenues from the sale of the new software were $3,102,000, and the company anticipates additional revenues of $7,238,000. The economic life of the software is estimated at four years.
Amortization of the software development costs for the year 2022 would be $_____.
Business
1 answer:
erik [133]3 years ago
8 0

Answer:

$471,000.

Explanation:

Using percentage of revenue method calculating amortization rate:

$3,102,000 / ( $3,102,000 + $7,238,000 ) = 30%

The amortization of development cost of Axcel software will be the cost after 30 June 2021 when project reached technological feasibility till product release date which is $1,570,000.

Amortization of software development costs for year 2022 :

$1,570,000 * 30% = $471,000.

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Answer:

Debit Cash $6,426; credit Interest Revenue $21; credit Interest Receivable $105, redit Notes Receivable $6,300.

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Based on the information given the appropriate journal entry that Uniform Supply should make on January 15 of the next year will be:

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3 years ago
What is the simplified base for the function f(x) = 2(3/272x)?
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The answer to this is C
7 0
3 years ago
Explain with examples, the process of screening and evaluating new venture opportunities.
Blababa [14]
Self-Analysis
According to the Arkansas Small Business Development Center, most small businesses fail because of poor management and the owner’s inability to manage resources. Before you even start researching the feasibility of your idea and the market you plan on entering, evaluate your own talents, desires and goals. Consider your willingness to take risks as well as the amount of time and energy you’ll need to make the business a success. Review your financial, personnel and marketing skills as well to ensure you have the necessary background to make a success of your new venture.

Financial Components
After learning about the investment required to purchase the existing business or franchise or the start-up costs you’ll need initially, evaluate your own resources. Part of a financial assessment includes the amount you have in personal savings to add to the initial investment. Banks typically require entrepreneurs to come up with a portion of the investment to show good faith and willingness to take a risk with the lender. Assess the financing available through the seller, investors and lenders when evaluating your chances of succeeding.

Market Research
To thoroughly understand what you’re getting into, perform an extensive market research project to determine the feasibility of your business. In addition to gleaning statistics of trends and current customer buying patterns, you need to know who your customers are, where they are located and what kind of competition exists in your area. Consider market research your first steps in opportunity analysis that help you understand exactly how you will sell products or services to a specific market.

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4 0
3 years ago
In the ethical decision-making framework, the main difference between identifying the stakeholders and considering how those sta
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The difference between the identification of the stakeholders and the impact of ethical decision-making on the stakeholders is that <u>A. as the firm identifies the </u><u>stakeholders</u>, it must anticipate which ones will be most affected by the decision being made.

<h3>What is ethical decision-making?</h3>

Ethical decision-making involves the evaluation and choice of the best alternatives that are consistent with the organization's ethical principles.

In making ethical decisions, the organization should eliminate unethical options so as to select the best ethical alternatives.

<h3>Answer Options:</h3>

A. as the firm identifies the stakeholders, it must anticipate which ones will be most affected by the decision being made.

B. after a firm identifies the stakeholders affected, it must then consider the future implications of the decision being made.

C. a firm only needs to identify the stakeholders affected if feedback from the monitoring and assessing step indicates there is a need to do so.

D. a firm only needs to consider the impact of the decision if the stakeholders identified indicate there is a need to do so.

E. before a firm identifies the stakeholders affected, it must first consider the future implications of the decision being made.

Hence, <u>Option A.</u> is correct.

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7 0
2 years ago
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Answer:

Income

Explanation:

A budget shows a plan of how one will spend their income. It is, therefore, a plan of expenditure.  A budget shows total expected income on one side and projected expenditure on the other side. The budget is balanced when income and expenses are equal.

6 0
3 years ago
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