# EssayNICE | 24/7 Homework Help

Assignment help 7425

by | Jun 24, 2023 | Posted Assignments

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.

#### Why Place An Order With Us?

• Certified Editors
• Profesional Research
• Easy to Use System Interface
• Student Friendly Pricing

#### Have a similar question?

##### Services that we offer

Your Paper Is In Safe Hands

PLAGIRAISM FREE PAPERS

All papers we provide are well-researched, properly formatted and cited.

TOP QUALITY

All papers we provide are well-researched, properly formatted and cited.

HIGHLY SECURED

All papers we provide are well-researched, properly formatted and cited.