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Problem 2 Anna has an accounting year-end 31 march 2014. Anna development stage of a new product to produce November 2013. Expenditure of $25,000 per mont was completed on l March 2014 when when the drug went into Immediate production. The directors became confident of the project's success on 1 January 2014. The drug has an estimate life of 10 years, time apportionment is used by Anna where applicable. launched the a new pharmaceutical drug on 1 was incurred until the project Required: Please show the accounting entries and amount which Anna will charge rofit and loss for development costs, including any amortisation, for the year ended 31 March 2014. 15 points) (b) Musgrave purchased a biulding for capital appreciation purposes for $500,000 at the start of the accounting period. At the end of the year the fair value of the boulding was $575,000. Musgrave's accounting policy is to depreciate buildings over 50 years as part of property, plant and equipment and adobt the fair value modet. Required: Determine how should account for the above transaction in its financial statements? (15 points) (30 points