Martinez Company incurred the following costs during $2015$ in connection with its research and

development activities.

Cost of equipment acquired that will have alternative uses in future R&D projects over the next $5$

years$($uses straight$-$line depreciation$)-$ Taka $330,000$

Materials consumed in R&D projects $-$ Taka $59,000$

Consulting fees paid to outsiders for R&D projects $-100,000$

Personnel costs of persons involved in R&D projects $-128,000$

Indirect costs reasonably allocable to $R$&$D$ projects $-50,000$

Materials purchased for future $R$&$D$ projects $-34,000$

Required: Compute the amount to be reported as research and development expense by

Martinez on its income statement for $2015.$ Ass ume equipment is purchased at the beginning

of the year and economic viability has not been achieved.

Presented below is information related to equipment owned by Pujols Company at December

$31,205.$

Cost $-$ Taka $9,000,000$

Accumulated depreciation to date $-1,000,000$

Value$-$in$-$use $-7,000,000$

Fair value less cost of disposal $-4,400,000$

Assume that Pujols will continue to use this asset in the future. As of December $31,205,$ the

equipment has a remaining useful life of $4$ years.

Required: Prepare the journal entry $($if any$)$ to record the impairment of the asset at

December $31,20$X$5.[2]$