Development Co incurs the following expenditure in years 20X1-20X5. Research Development $ $ 20X1 35,000 55,000 20X2 65,000 20X3 20X4 20X5 38,000 Bahrain Polytechnic * Activity: The development expenditure meets the IAS 38 criteria that require capitalisation ('PIRATE'). The item developed in 20X1 and 20X2 goes on sale on 1.1.X3 and it will be three years from then until any competitor is expected to have a similar product on the market. Required Show statement of profit or loss and Statement of Financial Position extracts for the years 20X1-20X5 inclusive. I وليتكنك البحرين

Development Co incurs the following expenditure in years 20X1-20X5. Research Development $ $ 20X1 35,000 55,000 20X2 65,000 20X3 20X4 20X5 38,000 Bahrain Polytechnic * Activity: The development expenditure meets the IAS 38 criteria that require capitalisation ('PIRATE'). The item developed in 20X1 and 20X2 goes on sale on 1.1.X3 and it will be three years from then until any competitor is expected to have a similar product on the market. Required Show statement of profit or loss and Statement of Financial Position extracts for the years 20X1-20X5 inclusive. I وليتكنك البحرين

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please help i need only c1, c2, c3
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Please answer, The questions are under IAS 38 Intangible Assets
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