Business, 18.02.2020 18:57 AADJ4

On December 31, Year 1, Bit Co. had capitalized costs for a new computer software product with an economic life of 5 years. Sales for Year 2 were 30% of expected total sales of the software. At December 31, Year 2, the software had a net realizable value equal to 90% of the capitalized cost. What percentage of the original capitalized cost should be reported as the net amount on Bit’s December 31, Year 2, balance sheet?

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On December 31, Year 1, Bit Co. had capitalized costs for a new computer software product with an ec...