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accounting question . B C Directions: Complete the table below: Do the items below lead to the recognition of an asset (Y/N)? If yes, what
accounting question
. B C Directions: Complete the table below: Do the items below lead to the recognition of an asset (Y/N)? If yes, what is the account name, measured amount, and classification as current or noncurrent? Item Recognition of Asset (Y/N) Account Name Measurement Amount Current or Noncurrent 1. X pays $2MM for an option to purchase a plot of land on which it 3 wants to build a factory. The price of the land is $275MM. 2. X spends $45 MM on R&D. Due to this R&D, X is able to file a patent. 4. The cost of obtaining the patent is $1MM. 3. X signs a 5-year employment offer with an incoming CFO for 5 $15MM salary and stock options. The CFO will start in two months. 4. X receives an invoice of $30MM for a shipment that a supplier in Asia just sent. The supplier retains the right to this shipment until it arrives to X's US location. 5. X buys a $15MM government bond that will mature in four years. It 7 plans to hold the bond until maturityStep by Step Solution
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