THIS QUESTION has 2 parts:6. A company incurs research and development costs of $200,000 in 2011 of which $50,000 of these costs relate to development activities because certain criteria have been met which suggest that an intangible asset has been created. 6.1 What amount should be recognized as research and development expense in 2011 using U.S. GAAP? a)$50,000.b)$150,000.c)$200,000.d)$0.e)$250,000.6.2 What amount should be recognized as research and development expense in 2011 using IFRS? a)$50,000.b)$150,000.c)$200,000.d)$0.e)$250,000.This QUESTION has 4 Parts:7. The following information pertains to inventory held by a company at December 31, 2011:Historical Cost =$25,000Replacement Cost =$20,000Net Realizable Value =$21,000Normal Profit Margin =20%7.1 What amount of inventory should be reported under U.S. GAAP?a)$25,000.b)$21,000.c)$20,000.d)$16,800.e)$16,000.7.2 What is the amount of inventory loss shown on the income statement under U.S. GAAP?a) $1,000.b) $2,000.c) $4,000.d) $5,000.e) $8,200.7.3 What amount of inventory should be reported under IFRS?a) $25,000b) $21,000c) $20,000d) $4,000e) $5,0007.4 What is the amount of inventory loss shown on the income statement under IFRS?a) $1,000.b) $2,000.c) $4,000.d) $5,000.e) $6,000.
THIS QUESTION has 2 parts:
Give us your instructions.
Select the type of service you need: writing, calculations, or programming. We’ve created an intuitive order form that tells you what information to enter and where, so make sure to fill out each required field. Also, make your requirements as specific as possible. Don’t rush! Take your time and explain everything in detail how it works.
Proceed to checkout and enter your credit card details or PayPal login, how to pay. Follow the payment provider’s instructions to confirm the transaction.
Now your order is in our system! We’ll start processing it right away.