Business, 30.03.2020 17:00 edgar504xx

After years of research had been conducted at significant cost, Blanco Chemical Company determined a fertilizer they had been developing was possible to bring to production, intended to do so, and had the means by which to accomplish that. They then spent an additional $5,000,000 in development efforts to obtain a patent.
1.. According to IAS 38 (Intangible Assets), how should Blanco Chemical Company record the $5,000,000?
O as a "Deferred Development Cost" on the Balance Sheet.
O as "Fertilizer Revenue" on the Income Statement.
O as "Development Expense" on the Income Statement.
O It should only be reported in the notes to the financial statements.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 16:10

Acustomer has come to your department with an urgent question. you promised her that you would collect information about her question and answer it by noon. it will take you at least 20 minutes to gather the information needed to provide an answer. it is now 11: 50 a.m. your supervisor just scheduled a 30-minute meeting to start at noon. this meeting is for all employees in your department. you decide to:

Answers: 2

Answer

Business, 22.06.2019 09:50

Beck company had the following accounts and balances at the end of the year. what is net income or net loss for the year? cash $ 74 comma 000 accounts payable $12,000 common stock $21,000 dividends $12,000 operating expenses $ 13 comma 000 accounts receivable $ 49 comma 000 inventory $ 47 comma 000 longminusterm notes payable $33,000 revenues $ 91 comma 000 salaries payable $ 30 comma 000

Answers: 1

Answer

Business, 22.06.2019 10:20

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.

Answers: 1

Answer

Business, 22.06.2019 10:30

True or false: a fitted model with more predictors will necessarily have a lower training set error than a model with fewer predictors.

Answers: 2

Answer

You know the right answer?

After years of research had been conducted at significant cost, Blanco Chemical Company determined a...

Questions