Monthly budget budgeted amount actual amount income wages savings interest $1150 $25 $900 $25 expenses rent utilities food cell phone savings $400 $100 $250 $75 $200 $400 $80 $200 $75 $ net income $150 $
a. it is not possible to save any money this month without having a negative actual net income.
b. $170 can be saved resulting in an actual net income of $0.
c. $200 can be saved resulting in an actual net income of $150.
d. as long as you are saving money, you will not have a negative actual net income.

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u. s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u. s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u. s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u. s. gaap balances to ifrs.

Post test question number 9 for entering the job market

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