XY Co has development expenditure of $500,000. Its policy is to amortise development expenditure at 2% per annum. Accumulated amortisation brought forward is $20,000. What is the charge in the income statement for the year's amortisation?
XY Co has development expenditure of $500,000. Its policy is to amortise development expenditure at 2% per annum. Accumulated amortisation brought forward is $20,000. What is the charge in the income statement for the year's amortisation?
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 34P
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XY Co has development expenditure of $500,000. Its policy is to amortise development expenditure at 2%
per annum. Accumulated amortisation brought forward is $20,000. What is the charge in the income
statement for the year's amortisation?
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