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5 polls Save A stion 1 Axcel Software began a new development project in 2020. The...
Axcel Software began a new development project in 2017. The project reached technological feasibility on June...
Axcel Software began a new development project in 2017. The project reached technological feasibility on June 30, 2018, and was available for release to customers at the beginning of 2019. Development costs incurred prior to June 30, 2018, were $4,100,000 and costs incurred from June 30 to the product release date were $2,250,000. The 2019 revenues from the sale of the new software were $4,500,000, and the company anticipates additional revenues of $6,000,000. The economic life of the software is...
Axcel Software began a new development project in 2017. The project reached technological feasibility on June...
Axcel Software began a new development project in 2017. The project reached technological feasibility on June 30, 2018, and was available for release to customers at the beginning of 2019. Development costs incurred prior to June 30, 2018, were $4,700,000 and costs incurred from June 30 to the product release date were $1,800,000. The 2019 revenues from the sale of the new software were $4,500,000, and the company anticipates additional revenues of $6,500,000. The economic life of the software is...
During 20X1, the Balboa Software Company incurred development costs of $2,000,000 related to a new software...
During 20X1, the Balboa Software Company incurred development costs of $2,000,000 related to a new software project. Of this amount, $400,000 was incurred after technological feasibility was achieved. The project was completed in the middle of the year and the product was available for release to customers on July 1. Revenues from the sale of the new software in 20X1 were $500,000 and the company anticipated future additional revenues of $4,500,000. The economic life of the software is estimated at...
Exerclse 10-32 (Algo) Software development costs [LO10-8] On September 30, 2021, Athens Software began developing a...
Exerclse 10-32 (Algo) Software development costs [LO10-8] On September 30, 2021, Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February 28, 2022, and the program was available for release on April 30, 2022 Development costs were incurred as follows: $2,310,000 910,000 510,000 September 30 through Deccember 31, 2021 January 1 through February 28, 2022. March 1 through April 30, 2022 Athens expects a useful life of five years...
Exercise 10-32 (Algo) Software development costs [LO10-8] On September 30, 2021. Athens Software began developing a sof...
Exercise 10-32 (Algo) Software development costs [LO10-8] On September 30, 2021. Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February 28, 2022, and the program was available for release on April 30, 2022. Development costs were incurred as follows: September 30 through December 31, 2021 January 1 through February 28, 2022 March 1 through April 30, 2022 $2,310,000 910,000 510,000 Athens expects a useful life of five years...
Accounting for Software Development Costs During 2020, PC Software Inc. developed a new personal computer database...
Accounting for Software Development Costs During 2020, PC Software Inc. developed a new personal computer database management software package. Total experiditures on the project were $4,800,000, of which 40% occurred after the technological feasibility of the product had been established. The product was completed and offered for sale on January 1, 2021. During 2021, revenues from sales of the product totaled $7,680,000. The package is expected to be successfully marketable for five years, and the total revenues over the life...
Accounting for Software Development Costs During 2020, PC Software Inc. developed a new personal computer database...
Accounting for Software Development Costs During 2020, PC Software Inc. developed a new personal computer database management software package. Total expenditures on the project were 54,800,000, of which 40% occurred am the technological feasibility of the product had been established. The product was completed and offered for sale on Janoary 1, 2021. During 2021, revenues from sales of the product tota $7,680,000. The package is expected to be successfully marketable for five years, and the total revenues over the life...
Exercise 10-32 Software development costs [LO10-8) On September 30, 2018, Athens Software began developing a software...
Exercise 10-32 Software development costs [LO10-8) On September 30, 2018, Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February 28, 2019, and the program was available for release on April 30, 2019. Development costs were incurred as follows: September 30 through December 31, 2018 January 1 through February 28, 2019 March 1 through April 30, 2019 $2,370,000 970,000 570,000 Athens expects a useful life of four years for...
During 2020, PC Software Inc. developed a new personal computer database management software package. Total expenditures...
During 2020, PC Software Inc. developed a new personal computer database management software package. Total expenditures on the project were $5,400,000, of which 40% occurred after the technological feasibility of the product had been established. The product was completed and offered for sale on January 1, 2021. During 2021, revenues from sales of the product totaled $8,640,000. The package is expected to be successfully marketable for five years, and the total revenues over the life of the product are estimated...
Early in 2018, the Excalibur Company began developing a new software package to be marketed. The...
Early in 2018, the Excalibur Company began developing a new software package to be marketed. The project was completed in December 2018 at a cost of $11,000,000. Of this amount, $7,000,000 was spent before technological feasibility was established. Excalibur expects a useful life of five years for the new product with total revenues of $15,000,000. During 2019, revenue of $6,000,000 was recognized. Required: 1. Prepare a journal entry to record the 2018 development costs. Record the 2018 development costs in...
Axcel Software began a new development project in 2017. The project reached technological feasibility on June 30, 2018, and was available for release to customers at the beginning of 2019. Development costs incurred prior to June 30, 2018, were $4,700,000 and costs incurred from June 30 to the product release date were $1,800,000. The 2019 revenues from the sale of the new software were $4,500,000, and the company anticipates additional revenues of $6,500,000. The economic life of the software is...
Exerclse 10-32 (Algo) Software development costs [LO10-8] On September 30, 2021, Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February 28, 2022, and the program was available for release on April 30, 2022 Development costs were incurred as follows: $2,310,000 910,000 510,000 September 30 through Deccember 31, 2021 January 1 through February 28, 2022. March 1 through April 30, 2022 Athens expects a useful life of five years...
Exercise 10-32 (Algo) Software development costs [LO10-8] On September 30, 2021. Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February 28, 2022, and the program was available for release on April 30, 2022. Development costs were incurred as follows: September 30 through December 31, 2021 January 1 through February 28, 2022 March 1 through April 30, 2022 $2,310,000 910,000 510,000 Athens expects a useful life of five years...
Accounting for Software Development Costs During 2020, PC Software Inc. developed a new personal computer database management software package. Total experiditures on the project were $4,800,000, of which 40% occurred after the technological feasibility of the product had been established. The product was completed and offered for sale on January 1, 2021. During 2021, revenues from sales of the product totaled $7,680,000. The package is expected to be successfully marketable for five years, and the total revenues over the life...
Accounting for Software Development Costs During 2020, PC Software Inc. developed a new personal computer database management software package. Total expenditures on the project were 54,800,000, of which 40% occurred am the technological feasibility of the product had been established. The product was completed and offered for sale on Janoary 1, 2021. During 2021, revenues from sales of the product tota $7,680,000. The package is expected to be successfully marketable for five years, and the total revenues over the life...
Exercise 10-32 Software development costs [LO10-8) On September 30, 2018, Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February 28, 2019, and the program was available for release on April 30, 2019. Development costs were incurred as follows: September 30 through December 31, 2018 January 1 through February 28, 2019 March 1 through April 30, 2019 $2,370,000 970,000 570,000 Athens expects a useful life of four years for...
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