All categories

3 years ago

Jackson Ltd is developing computer software for use in its courier delivery service business. So

Business

1 answer:

Helen [10]3 years ago

5 0

Answer:

Jackson Ltd

Software Development ($50,000) and Purchase ($100,000):

The accounting treatment consistent with the framework is to:

a. Recognise an asset of $100 000 and expense of $50 000.

Explanation:

The development cost of the Software which is abandoned cannot be capitalized. Software development cost can only be capitalized after testing for usability. Otherwise, Software development costs are expensed as they are incurred. On the other hand, the purchased Software can be recognized as a long-term asset, Plant, Property, and Equipment as it will be in use for more than 2 years.

You might be interested in

of inventory can absorb variations in flow rates by acting as a source of supply for a downstream step.

Vanyuwa [196]

Buffer of inventory can absorb variations in flow rates by acting as a source of supply for a downstream step.

<h3>What is a buffer?</h3>

In manufacturing, a buffer is used to account for fluctuations in the production process. Consider a buffer as a means to guarantee that your production line will continue to function normally even if unexpected circumstances arise.

Having enough supplies on hand to ensure smooth operations is one example of a buffer in manufacturing. To help stabilize any fluctuations they encounter with their supply and demand chains, production capabilities, and lead times, manufacturers will often keep inventories of the raw materials and supplies needed for production on hand, as well as occasionally inventories of finished goods awaiting shipment.
Without the proper buffers, manufacturing procedures may sluggish, which would result in more costs and lower profitability.

To know more about buffer with the given link

brainly.com/question/19093015

#SPJ4

8 0

1 year ago

Philippe Organic Farms has total assets of $689,400, long-term debt of $198,375, total equity of $364.182, net fixed assets of $

solniwko [45]

Answer:

Current ratio= 1.3977

Explanation:

Current Ratio:

It is the measure of company ability to pay short term debits of one year. It also tells how company can increase its current assets.

Given:

Total assets=$689,400

Long-term debt=$198,375

Total equity= $364,182

Net fixed assets =$512,100

Sales = $1,021,500

Formula For current Ratio:

Current Ratio= $\frac{Total\ Assets-Net\ Fixed\ Assets}{Total\ Assets- long_term\ debt-total\ equity}$

$Current\ Ratio=\frac{\$689,400-\$512,000}{\$689,400-\$364,182-\$198,375}\\ Current\ Ratio=1.3977$

4 0

4 years ago

List three things that you would list on both your resume and your job application.

RSB [31]

Answer:

Name and Contact info

relevant skills

professional history

Explanation:

7 0

3 years ago

Carol takes out an insurance policy on her car. Carol can assign her policy to a third party

notka56 [123]

What is the question here?

4 0

3 years ago

On July 8, a fire destroyed the entire merchandise inventory on hand of Larrenaga Wholesale Corporation. The following informati

riadik2000 [5.3K]

Answer:

estimated inventory on July 8 = $280000

so correct option is d. $280,000

Explanation:

given data

sale = $700,000

Inventory = $130,000

Purchase = $640,000

to find out

estimated inventory on July 8

solution

first we get here total available inventory for sales that is

Total Available inventory for sales = Inventory + Purchase ...........1

put here value

Total Available inventory for sales = $130,000 + $640,000

Total Available inventory for sales = $770,000

so now we get Inventory sols that is

Inventory = (Sales - 30% of sales) ....................2

Inventory = $700000 - ( 0.30 × $700000 )

Inventory = $490,000

so now we get here estimated inventory on July 8 that is express as

estimated inventory = Total Available inventory for sales - Inventory .........3

estimated inventory = $770,000 - $490,000

estimated inventory = $280000

so correct option is d. $280,000

7 0

4 years ago