On January 1, 2024, a company began development of new software. The project reached technological feasibility on September 1, additional development costs for coding and testing were incurred through December 1, advertisement and distribution costs were incurred through December 31, and then the product was released for sale to customers early the following year. Below are the costs incurred at each sta $ 515,000 $ 315,000 $ 165,000 The economic life of the software is estimated at three years. For what amount will software be capitalized in 2024? Prior to September 1 to help reach technological feasibility From September 1 to December 1 for additional development From December 1 to December 31 for advertisement and distribution Multiple Choice $315,000 $830,000 $480,000

During 2024, a 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 2024 were $500,000 and the company anticipated future additional revenues of $4,500,000. The economic life of the software is estimated at four years. What is amortization in 2024?

You are given the following financial data about an assembly machine to be implemented at a company: - Investment cost at year 0 (n=0) is $22,000 - Investment cost at the end of the first year (n=1) is $18,500 - Useful life: 15 years - Salvage value (at the end of 15 years): $7,000 Annual revenues: $18,000 per year - Annual expenses: $5,000 per year Assuming the first revenues and expenses will occur starting from the end of year 2, determine the conventional (non-discounted) payback period.

Atlas Manufacturing incurred the following costs during 2022: Spent $15,000 on a major overhaul for a tractor trailer rig. The overhaul is 1 expected to increase the service life of the rig by three years. Rearranged and reconfigured the maintenance, loading, and unloading 2. facilities at a cost of $75,000. The rearrangement is expected to result in substantial cost savings and increased efficiency over the next several years. Acquired a patent for $40,000 related to the processing of the company products in exchnage for 1,000 shares of Atlas' common stock. The stock had par value of $1 per share and a fair value of $40 per share. Paid annual insurance premium on the property for the coming year, $7,700. Scrapped equipment during the year which had a total cost of $110,000 and accumulated depreciation of $95,000. No cash was received for the scrap. Assume accumulated depreciation current. 6. Landscaped the property and added outdoor lights, $9,000. Purchased a truck for $30,200 in…