acounting

posted by .

TEST XQ's Software Development Division (SDD) has developed several architectural design software packages. One software package that they have developed is being sold to English Company for $250,000 or 325,000 pounds. The cost of developing the software was $195,000. As payment, XQ has accepted a note receivable that is due in 5 years.
SDD has also developed a second software package. They incurred development costs of $410,000. They are trading this software package in exchange for a small office building. The fair market value of this building is $600,000.
In an Excel spreadsheet, make the accounting entry on XQ's books for each software sale. Include 1–3 paragraphs discussing the accounting issues involved for each sale.
Use $235,000 as the discounted value of the note receivable.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. human resource

    You are the human resources professional for an independent software development firm with 50 employees (annual sales $50,000,000) in the metro Detroit area. Your task is to conduct a cost/benefit analysis to various options for recruiting, …
  2. computer

    2. _____is applications software designed to help users be more efficient. (Points: 5) a.Assistance software b.Efficiency software c.Productivity software d.Software suites is it D
  3. Education/Technology

    Productivity software that allows the student to create professional-looking pages with text, graphics, digital pictures, stylized headlines, and professionally prepared design elements is called: A) Desktop publishing software. B) …
  4. Statistics

    The coding department of a large physician clinic is interested in purchasing a software program that will edit claims before they are sent out to billing. The license fee for the software costs $34,000 per year. The software is expected …
  5. Statistics

    The coding department of a large physician clinic is interested in purchasing a software program that will edit claims before they are sent out to billing. The license fee for the software costs $34,000 per year. The software is expected …
  6. Statistics

    The coding department of a large physician clinic is interested in purchasing a software program that will edit claims before they are sent out to billing. The license fee for the software costs $34,000 per year. The software is expected …
  7. Math Problem (please help)

    A small software company invests $30,000 to produce a software package that will sell for $64.95. Each unit can be produced for $42.25. How many units must be sold to break even?
  8. Algebra

    A small software company invests $30,000 to produce a software package that will sell for $64.95. Each unit can be produced for $42.25. (Round your answers to the nearest whole number.)
  9. Algebra

    A small software company invests $30,000 to produce a software package that will sell for $64.95. Each unit can be produced for $42.25. (Round your answers to the nearest whole number.) (a) How many units must be sold to break even?
  10. algebra (please help)

    A small software company invests $30,000 to produce a software package that will sell for $64.95. Each unit can be produced for $42.25. (Round your answers to the nearest whole number.) (a) How many units must be sold to break even?

More Similar Questions