What account on its balance sheet is currently affected

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Reference no: EM132965188

Neuralstem, Inc. (NYSE: CUR; Germantown, MD; hereafter, "Neuralstem" or "the Company") is a biopharmaceutical company that is utilizing its proprietary human neural stem cell technology to create a comprehensive platform for the treatment of central nervous system diseases. The Company was founded in 1997 and currently has laboratory and office space in Germantown, Maryland and laboratory facilities in San Diego, California and in the People's Republic of China.

Problem 1 (a) What is the approximate age (on average) of the Company's "property and equipment?"

(b) Is that relatively new or relatively old compared to the expected life of the property and equipment? Explain.

Problem 2. Assume that the Company purchased its additional Property and Equipment with cash. Write the journal entry that the Company would have used to record the purchase of Property and Equipment in 2014.

Problem 3 (a) The Company engages in significant research and development activities. What account on its Balance Sheet is currently affected the most by those research and development activities? Explain.

(b) The Company follows U.S. GAAP. If the Company instead followed IFRS, would its long-term assets likely be higher, lower, or the same as currently reported? Explain.

Reference no: EM132965188

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