User Account

All Pages

What is the amount that could be debited to drug development

Assignment Help Financial Accounting
Reference no: EM133000560

Cue All Ltd under takes a lot of research and testing for drugs to treat many different health issues. Strict testing is required and if results are positive then government approval is sought for approval to then mass produce successful drugs.

Problem 1: In 2020, $230,000 was spent on testing prior to approval and $450,000 spent preparing to produce the drugs after approval was granted. $50,000 was spent marketing a new drug to treat 3 different cancers, what is the amount that could be debited to Drug Development Intangible asset in 2020?

a.$50,000
b.$230,000
c.$450,000
d.$730,000

Reference no: EM133000560

Questions Cloud

Briefly explain the appropriate accounting treatment : Briefly explain the appropriate accounting treatment(s) for each scenario. Prepare the relevant journal entries and/or notes to the accounts for each scenario
What is the amortisation amount for the asset for the year : Cue All Ltd under takes a lot of research and testing for drugs. What is the amortisation amount for this asset for the year ended 30 June 2021?
Explain the payback period model : In 150 words or more, explain the payback period model and its two significant weaknesses. How does the discounted payback period model address one of the probl
Explain how an individual can become a fund manager : Explain how an individual can become a Fund Manager
What is the amount that could be debited to drug development : $50,000 was spent marketing a new drug to treat 3 different cancers, what is the amount that could be debited to Drug Development Intangible asset in 2020?
Maintain the current spread and cash settlement : a. A bank made a 6-month $100 million loan at 6% funded by a 3-month deposit at 3%.To protect against interest rates when rolling over the deposit in three mont
What is the amount of revenue cure all ltd can recognise : What is the amount of revenue Cure All Ltd can recognise in the first month of the second year of the contract? The contracts totalled $1,000,000 of revenue.
Make the income statement for the period ended : Make the income statement for the period ended 30th April 2017 and statement of financial position as at the same date
Explain the concept of finance : 1. Explain the concept of finance. 2. How is finance related to other functional areas in a business organization (marketing, production, accounting, etc.)?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Make an income statement tor the year ending for concepcion

Make an Income Statement tor the year ending 2021 for Concepcion Trading Company, supported by all computations necessary to determine.

  Indicate dollar amounts to be reported as current liability

Kings Company is preparing its December 31, 2017, Indicate the dollar amounts to be reported as a current liability and as a long-term liability, if any.

  Considering income limitations or the standard deduction

In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) neither deductible for nor deductible from AGI before considering income limitations or the standard deduction. Fran spent $97 fo..

  Discuss any areas for improvement in amandla engineering

Analyse and provide detailed comments on the direct labour expense for the year ended 28 February 2009 in comparison to the budget and Discuss, with reasons, whether or not you agree with the Production Director's view that the direct labour expens..

  Calculate the inventory turnover and days in inventory

Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors Corporation uses the LIFO inventory method. Calculate the inventory turnover and day..

  Which policy would choose

Which policy would you choose? Assume rate of interest is 6 percent. You will receive equal annual payments of $10,000 beginning 35 years from now for 10 years.

  How much should expect to pay for hundred shares

If you desire a 15% rate of return, how much should you expect to pay for 100 shares when you can afford to buy this stock? Ignore trading costs.

  Compute the labor price variance and indicate

Compute the labor price variance and indicate whether it is favorable (F) or unfavorable (U). Compute the labor usage variance and indicate whether it is favorable (F) or unfavorable (U).

  Record the transactions for the month of september

Record the transactions for the month of September in the journals provided below Total the special journals. Ignore narrations.

  Using computer-assisted audit techniques

Comparing data on separate files can be accomplished by using computer-assisted audit techniques (CAATs) to determine whether comparable information is in agreement.

  How attractive is the merseyside project

How attractive is the Merseyside project? By what criteria? Cash flows obtained by cannibalizing another activity within the firm

  Response about accrual accounting

Accrual accounting "is an accounting method that measures the performance and position of a company by recognizing economic events regardless of when cash transactions occur" (Investopedia, 2016)

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd