On 1 April 2013 Ulladulla Mining Ltd Assessed That Its

question 41

Multiple Choice

On 1 April 2013 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: $$\begin{array} { | l | r | r | } \hline & \text { Cost } & \text { Useful life } \\\hline \text { Mine site building } & \$ 1500000 & 20 \text { years } \\\hline \text { Mining equipment } & 2400000 & 15 \text { years } \\\hline \text { Machineries and equipment (portable) } & 750000 & 8 \text { years } \\\hline\end{array}$$ The above assets were ready for use on 1 July 2013.Ulladulla Mining Ltd expects to extract the entire reserves in 5 years.For the year ending 30 June 2014 the entity had extracted 5000 ounces of gold.
What is the total depreciation/amortisation expense for the capitalised development costs for the year ending 30 June 2013?

• A) $465 000
• B) $483 750
• C) $540 000
• D) $930 000

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Definitions:

Hemispheres

Rephrased: The two symmetrical halves of the brain or certain organs, each performing specific functions and controlling different aspects of sensory and motor skills.

Acetylcholine

A neurotransmitter in both the central and peripheral nervous systems that is involved in many functions including muscle stimulation, memory, and learning.

Dopamine

A neurotransmitter involved in many functions, including motivation, reward, attention, and the regulation of movements.

Serotonin

Serotonin is a neurotransmitter that plays a key role in mood regulation, digestion, sleep, and other bodily functions.