Metilia Bhd is a company producing a range of beauty products. At present, Metilia Bhd is experiencing cash flow problem. Recently, Metilia Bhd has spent RM500,000 to develop a new type of cosmetic product. However, due to many factors and competition it is too early for Metilia Bhd to predict the success of this new product on the market. Issue: Whether RM500,000 cost spent could be capitalised as a companys asset? In addition to producing beauty products, Metilia Bhd also offers service in organising corporate event. A special corporate event has been arranged for Harmoni Bhd for the past few months and the event will only take place next month. Total service charged by Metilia Bhd is RM25,000 and 45% of the amount has been settled by Harmoni Bhd. Issue: Whether RM25,000 payment received could be recognised as companys revenue? Last month, RM15,000 cash was stolen from Metilia Bhd's night safe. Miss Sephia, account executive of Metilia Bhd needs to find a solution on how to account for this mishap. Issue: Whether RM15,000 cash stolen could be recognised as companys expense? Knowing the misfortune has happened to Metilia Bhd, the grateful customer of Mitelia Bhd has donated RM10,000 in order to ensure Metilia Bhd's cash flow problem do not worsen. Issue: Whether RM10,000 donation received could be recognised as companys asset? REQUIRED: Based on each line of the above case, and by reference to the Conceptual Framework for Financial Reporting, definition and recognition criteria, state whether the elements should be recognized or not in the companys account and provide explanation for your answers.