What is the amount of R&D costs expense in 2020
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In 2020, Lalli Corporation incurred R&D costs as follows:
Materials and equipment P100,000
Personnel 100,000
Indirect costs 50,000
P250,000
These cost relate to a product that will be marketed in 2021. The Company estimates that
these costs will be recouped by December 31, 2024.
Required
What is the amount of R&D costs expense in 2020?
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