XYZ's Software Development Division (SDD) has developed several architectural design software packages. One software package that they have developed is being sold to an English Company for $310,000 or 385,000 pounds. The cost of developing the software was $255,000. As payment, XYZ has accepted a note receivable that is due in 5 years.;SDD has also developed a second software package. They incurred development costs of $500,000. They are trading this software package in exchange for a small office building. The fair market value of this building is $675,000.;In an Excel spreadsheet, make the appropriate accounting entry on XYZ's books for each software sale. Include 1?3 paragraphs discussing the accounting issues involved for each sale. Include a 450-1255 word discussion of the accounting issues involved for each sale.;Use $285,000 as the discounted value of the note receivable.
Paper#26249 | Written in 18-Jul-2015Price : $27