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Hi Sir! Can you help me with this question please i can’t understand why the answer is C.
On 1 October 20X1 Hyena paid $500,000 deposit towards the cost of a laboratory for research and development. On 31 December 20X1, Hyena’s financial year end, the laboratory had still not been completed.
Where should the payment of $500,000 appear in Hyena’s statement of financial position as at 31 December 20X1?
A. Development costs under intangible assets
B. Payments on account under intangible assets
C. Payments on account under tangible non-current assets
D. Payments on account under current assets
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