I just want to know how to get the answer which is 750,000 MC47 On January 1, 2019, RMP Innovations, Inc. had capitalized cost ofP2,500,000 for a new computer software product with an economiclife of 5 years.expected that sales of software during its five year economic lifewould total P5,000,000. The expected sales in the remaining fourSales for 2019 amounted to P1,500,000.It is years are:2020P1,200,0003;2021 - P1,000,000; 2022 -P900,000; and 2023 - P400,000On December 31, 2019, the software had fair value less cost to sellof P2,250,00o.How much is the computer software amortization expense for theyear ended December 31, 2019?P750,000P500,000P250,000P225,000a.b.с.d.

Amortization refers to writing off of an intangible asset over a specific time period.

Answered: 7 On January 1, P2,500,000 for life of…

Business

Accounting

7 On January 1, P2,500,000 for life of 5 years expected that would total PE

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization

Section: Chapter Questions

Problem 38P

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I just want to know how to get the answer which is 750,000

MC47 On January 1, 2019, RMP Innovations, Inc. had capitalized cost of
P2,500,000 for a new computer software product with an economic
life of 5 years.
expected that sales of software during its five year economic life
would total P5,000,000. The expected sales in the remaining four
Sales for 2019 amounted to P1,500,000.
It is

years are:
2020
P1,200,0003;
2021 - P1,000,000; 2022 -
P900,000; and 2023 - P400,000
On December 31, 2019, the software had fair value less cost to sell
of P2,250,00o.
How much is the computer software amortization expense for the
year ended December 31, 2019?
P750,000
P500,000
P250,000
P225,000
a.
b.
с.
d.

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