On 1 April 2008,Ulladulla Mining Ltd assessed that its Mollymook area of interest contained economically recoverable reserves of 50,000 ounces of gold.On the same day the entity installed the following assets: The above assets were ready for use on 1 July 2008.Ulladulla Mining Ltd expects to extract the entire reserves in 5 years.For the year ending 30 June 2009 the entity had extracted 5,000 ounces of gold.
What is the total depreciation/amortisation expense for the capitalised development costs for the year ending 30 June 2008?
A) $465,000
B) $483,750
C) $540,000
D) $930,000
E) None of the given answers.

Question

On 1 April 2008,Ulladulla Mining Ltd assessed that its Mollymook area of interest contained economically recoverable reserves of 50,000 ounces of gold.On the same day the entity installed the following assets:  The above assets were ready for use on 1 July 2008.Ulladulla Mining Ltd expects to extract the entire reserves in 5 years.For the year ending 30 June 2009 the entity had extracted 5,000 ounces of gold.
What is the total depreciation/amortisation expense for the capitalised development costs for the year ending 30 June 2008?
A) $465,000 
B) $483,750 
C) $540,000 
D) $930,000 
E) None of the given answers.

Quizplus · Accepted Answer

The Answer of On 1 April 2008,Ulladulla Mining Ltd assessed that its Mollymook area of interest contained economically recoverable reserves of 50,000 ounces of gold.On the same day the entity installed the following assets:  The above assets were ready for use on 1 July 2008.Ulladulla Mining Ltd expects to extract the entire reserves in 5 years.For the year ending 30 June 2009 the entity had extracted 5,000 ounces of gold.
What is the total depreciation/amortisation expense for the capitalised development costs for the year ending 30 June 2008?
A) $465,000 
B) $483,750 
C) $540,000 
D) $930,000 
E) None of the given answers.

On 1 April 2008,Ulladulla Mining Ltd Assessed That Its Mollymook