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please choose the best answer and show all work! 2. The company creates a computer program. The company has spent TL 50,000 for the research
please choose the best answer and show all work!
2. The company creates a computer program. The company has spent TL 50,000 for the research phase and TL 40,000 for the development phase. What is the accounting treatment of these expenditures according to the IAS 38 Intangible Assets Standard (treat as an expense of the period or capitalize)? Indicate the name of the financial statement into which you record the expenditures. (25 points) Answer: Fill in the table where you see "?". For "Accounting Treatment" section, write "expense" or "capitalize". For "Financial Statement" section, write "statement of financial position" or "statement of profit or loss and other comprehensive income". Phase Amount Financial Statement Accounting Treatment expense or capitalize statement of financial position or statement of profit or loss and other comprehensive income TL 50,000 ? ? Research. Development TL 40,000 Step by Step Solution
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