Question: QUESTION 4 Aydin Und commences mining operations on 1 July 2019. During the first year of exploration and mining operations. Mydin Ladeplores three armas low

 QUESTION 4 Aydin Und commences mining operations on 1 July 2019.

During the first year of exploration and mining operations. Mydin Ladeplores three

QUESTION 4 Aydin Und commences mining operations on 1 July 2019. During the first year of exploration and mining operations. Mydin Ladeplores three armas low as Tallwang and Rngal. It incurs the following costs Exploration and Evaluation Exploration and Evaluation Tot cost costs: PPE costs.Intangble asset Gifford HUF 9 Tallawang 7 10 11 14 17 31 3 Final On 10 January 2020. uranium is discovered at Gifford Hill. In March 2020 it becomes too costly to continue operations at Tallowang. This site is abandoned. Operations at Fingalare continuing, although no decision has been made about the commercial viability of the site. Up until 30 June 2020, development costs of 512 million are incurred at Gifford Hill (to be depreciated/amortised on a production output basis). This cost relates to the construction of plant and equipment. The site is estimated to have 50 000 tonnes of uranium. The current sale price is $3000 per tonne. Up until 30 june 2020. SOOO tonnes of uraniurn are extracted at a production cost of $2 million. In June 2020. 4000 tonnes are sold with 1000 remaining on hand. The reporting date of Aydin ud is 30 June 2020. Required: Provide the journal entries using the area of-interest method. For the toolbar, press ALT+F10 (PO) or ALT+FN+F10 (Mac). BI US Paragraph Arial 14px I. v v Click Save and Submit to save and submit. Click Save All Answers to save all answers, ASUS VIVOBOOK

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