In September $2021$ Waldegrave acquired Connect Cosmetics for $\pounds 7,000,000$

their first color cosmetic group acquisition since $2017.$ Connect Cosmetic has a special brand, but the directors of Waldegrave were unable to place a value on it as yet.

Finally, Waldegrave spent $\pounds 2,000,000$ developing a new brand and paid$\mathrm{ \pounds }120,000$ for staff training and development.

Explain how each of the above should be treated in the accounts of Waldegrave plc for the year ended $31$ December $2021.$

 

 

Answer rating: 100% (QA)

There are three different financial transactions in Waldegraves accounts for the year ended December 31 2021 Heres how each of them should be treated ... View the full answer