Jameson Limited was involved in a mining exploration business. It commenced a project to design...
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Jameson Limited was involved in a mining exploration business. It commenced a project to design more efficient opal detecting equipment. The following expenditures occurred during the financial year ended 30 June 2019: researcher's salary $50 000; research consumables $30 000; re- development of the detecting equipment $40 000; final adjustments to the detecting equipment $12 500. The amount to be capitalised by this company as an intangible asset, for the 2019 financial year, is Select one: a. $90 000 b. $52 500 O C. $12 500 d. $80 000
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