Which one of the following is capitalized as intangible? an OMR 125,000 spent on development of a new product but later due to non-feasibility company discontinued to commit funds for the process Developing cost OMR 85,000 of a new process that shall significantly save cost for the company The company spent OMR 12,000 for designing a new company logo for the business Marketing cost of OMR 150,000 spent by company that led to increase in sale of the company significantly

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Current Attempt in Progress Skysong Brothers Inc. purchased land and an old building with the intention of removing the old building and then constructing the company's new corporate headquarters on the land. The land and old building were purchased for $565,000. Closing costs were $6,540. The old building was removed at a cost of $45,900. After readying the land for its intended use, and while waiting for construction to begin, Skysong generated net revenue of $3,270 from using the land as a parking lot. Determine the amount to be recorded as the land cost, and the treatment of the net revenue of $3,270, if Skysong prepares financial statements in accordance with (a) IFRS and (b) ASPE. Land cost $ IFRS The net revenue of $3,270 should be eTextbook and Media Save for Later $ ASPE IFRS Capitalized and credited to Buildings account ASPE Recognized as income when earned Attempts: 1 of 3 used v Submit Answer