Answer:
$400,000
Explanation:
Data provided in the question:
Development cost incurred = $2,000,000
Amount incurred after the technological feasibility was achieved = $400,000
Now,
The Software development costs that would be capitalized in 20X1
= Cost incurred after achievement of technological feasibility
= $400,000
Answer:
Net income of the company accounted for $400,000
Explanation:
Net income is the income or the amount of residual income from the earnings after deducting all the expense or cost from the sales.
The net income or loss of the company accounted for is computed as:
Net Income or Loss = Net Income - Research and Development cost
where
Net Income amounts to $3,400,000
Research and Development cost amounts to $3,000,000
So, putting the values above:
Net Income or loss = $3,400,000 - $3,000,000
Net Income = $400,000
Answer:
The correct answer is:
o A benefit of goals is that they help motivate employees.
o One of the drawbacks of plans is that they can create a false sense of security.
Explanation:
As a manager, working with employees to set goals is a great activity to motivate employees. But setting goals with employees has a disadvantage that they may create a false sense of security they may feel that everything is just taken for granted and is therefore considered as a disadvantage. Plans can be flexible to the changing environment.
Answer:
Balance = $1,650
Explanation:
As Norma company has paid 4 months rent in advance, therefore at the end of June, norma company will record its 1-month expense as follows
Adjusting entry at the end of June would be
DEBIT CREDIT
Entry
Rent Expense $550
Prepaid Rent $550
The balance on Norma's prepaid expense would be
Prepaid Rent = $2200
Rent Expense = ($550)
Balance = $1,650
