Arvea is developing energy management software and spends 30,000 on it per month throughout 20X1. It demonstrates all the development-phase criteria for the first time on 1 August 20X1. The period from January to July covers 7 months and the period from August to December 5 months. Calculate the amount capitalised and the amount recognised as an expense in 20X1.
- Monthly development expenditure
- 30,000
- Months before the criteria date
- 7
- Months from the criteria date
- 5