Earth Ltd owns a pharmaceutical business with a year-end of 31 October 2021. Earth Ltd began...

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Earth Ltd owns a pharmaceutical business with a year-end of 31 October 2021. Earth Ltd began the development stage of a new injection on 1 March 2021. $45,000 per month was incurred until the project was completed on 31 August 2021 at which point the injection went into immediate production. The directors of Earth Ltd became confident of the project's success on 1 May 2021. The injection has an estimated life span of eight years and time apportioned where necessary by Earth Ltd. What amount will Earth Ltd charge to the statement of profit or loss for development costs, including any amortisation, for the year ended 31 October 2021? Earth Ltd owns a pharmaceutical business with a year-end of 31 October 2021. Earth Ltd began the development stage of a new injection on 1 March 2021. $45,000 per month was incurred until the project was completed on 31 August 2021 at which point the injection went into immediate production. The directors of Earth Ltd became confident of the project's success on 1 May 2021. The injection has an estimated life span of eight years and time apportioned where necessary by Earth Ltd. What amount will Earth Ltd charge to the statement of profit or loss for development costs, including any amortisation, for the year ended 31 October 2021?

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Expense incurred per month 45000 Only expense incurred during the d... View the full answer