. The cost incurred were as follows: Cost of trademark, P5,000,000 Expenditure on promoting the new product, P200,000 Employee benefits relating to the testing of the proper functioning of the new process, P800,000 What is the total cost that should be capitalized as intangible assets?
. The cost incurred were as follows: Cost of trademark, P5,000,000 Expenditure on promoting the new product, P200,000 Employee benefits relating to the testing of the proper functioning of the new process, P800,000 What is the total cost that should be capitalized as intangible assets?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 4C
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Kim Company, an SME, has acquired a trademark relating to the introduction of a new manufacturing process. The cost incurred were as follows:
Cost of trademark, P5,000,000
Expenditure on promoting the new product, P200,000
Employee benefits relating to the testing of the proper functioning of the new process, P800,000
What is the total cost that should be capitalized as intangible assets?
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