The following information is available for buckeye company: january 1, 2003 december 31, 2003cash $25,000 $30,000land 40,000 42,000notes payable 29,000 45,000retained earnings 33,000 52,000accumulated depreciation 4,000 7,000supplies 8,000 10,000accounts payable 16,000 17,000equipment 20,000 ? accounts receivable 11,000 26,000contributed capital 40,000 40,000inventory 18,000 24,000during 2003, buckeye company reported sales revenue of $98,000, salaries expense of $22,000, rent expense of $17,000, and cost of goods sold. additionally, buckeye company paid $9,000 of dividends during 2003. (note - the amount of cost of goods sold has been intentionally omitted from this problem).calculate the amount of equipment reported in buckeye company's balance sheet at december 31, 2003

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.