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Need help answering this question: North Moun...

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Need help answering this question: North Mountain Mortgage, LLC (NMM) is a company that arranges for the purchase of seller-financed mortgages for mortgage companies to hold. It uses its self-developed database of information about seller-financed mortgages to market its services. How should North Mountain Mortgage LLC account for its database of information about seller-financed mortgages? The attached case provides you with the background on the company and a table of its costs associated with the database for the year. Your assignment is to identify the exact dollar amount of costs that NMM should capitalize for a database of seller-financed mortgage information and the exact dollar amount of costs that NMM should expense from the costs listed in the case. These two figures must add up to the total costs of $1,286,000. Write a two to five page paper that presents a financial reporting recommendation using the research method of Gujaranthi (1991). You must provide Codification references and/or Conceptual Framework references to support your recommendations. Your reporting should use the following outline for each item. I. Problem Summary and Solution Recommendation II. Issues Identified III. Sources Used IV. Discussion of Support The report should be double-spaced, Times New Roman 12 point, 1-inch margins

 

Paper#8120 | Written in 18-Jul-2015

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