Wojtowicz Limited was involved in a mining exploration business. It commenced a project to design more efficient gold detecting equipment. The following expenditures occurred during the financial year ended 2013:
$\bullet$Researcher's salary £5000
$\bullet$Research consumables £3000
$\bullet$Re-development of the detecting equipment £4000
$\bullet$Final adjustments to the detecting equipment £2500.
The amount to be capitalised by this company as an intangible asset, for the 2013 financial year, is:
A) £6500;
B) £8000;
C) £11 500;
D) £14 500.

Question

Wojtowicz Limited was involved in a mining exploration business. It commenced a project to design more efficient gold detecting equipment. The following expenditures occurred during the financial year ended 2013: 
$\bullet$Researcher's salary £5000
$\bullet$Research consumables £3000
$\bullet$Re-development of the detecting equipment £4000
$\bullet$Final adjustments to the detecting equipment £2500.
The amount to be capitalised by this company as an intangible asset, for the 2013 financial year, is:
A) £6500;
B) £8000;
C) £11 500;
D) £14 500.

Quizplus · Accepted Answer

The Answer of Wojtowicz Limited was involved in a mining exploration business. It commenced a project to design more efficient gold detecting equipment. The following expenditures occurred during the financial year ended 2013: 
$\bullet$Researcher's salary £5000
$\bullet$Research consumables £3000
$\bullet$Re-development of the detecting equipment £4000
$\bullet$Final adjustments to the detecting equipment £2500.
The amount to be capitalised by this company as an intangible asset, for the 2013 financial year, is:
A) £6500;
B) £8000;
C) £11 500;
D) £14 500.

Wojtowicz Limited Was Involved in a Mining Exploration Business ∙\bullet∙ Researcher's Salary £5000

Wojtowicz Limited Was Involved in a Mining Exploration Business $\bullet$ Researcher's Salary £5000