1. There is a patent developed internally, as the company started the search process from 1/1/2015 until 30/6/2015, and during that period the company spent 300,000 dinars on that process. As of 1/7/2015, all the conditions that must be met were fulfilled in order for the company to start the development phase, which ended on 30/9/2015 with a total cost of 600,000 (for the period 1/7 - 30/9), where the company decided to use the second installment method In extinguishing the patent and the productive life of 10 years.

Required: The book value of the patent at the end of 2016

2. An amount of 300,000 dinars was paid in 2016 by the company to rehabilitate its employees and increase their efficiency to improve the company's production, which was estimated at 120,000 over five years. There is also a goodwill estimated at 10,000 that was generated internally and does not have a specific useful life.

Required: The book value of the previous intangible assets at the end of 2016

Answer rating: 100% (QA)

Answer to Question 1 Expense during the research phase has to be expensed as per IAS38 Therefore 300... View the full answer