Question: Mercury's year-end is September 30, 2014. It commended the development stage of a new...
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Question: Mercury's year-end is September 30, 2014. It commended the development stage of a new pharmaceutical drug on January 1, 2014. $40,000 per month was incurred until the project was completed on June 30, 2014, when the drug went into immediate production. The directors became confident of the project's success on March 1, 2014. The drug has an estimated life span of 5 years and time apportionment is used by mercury where applicable.
Required: Charge to Profit or loss statemnet for the year ended 30 September 2014 including any amortization or development costs?
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