a) Depletion rate = 42500000/50000000 = 0.85 per ton
b) Depletion expense = 12500000*.85 = 10625000
c) Journal entry
Dec 31 | Depletion expense | 10625000 | |
Accumulated depletion | 10625000 | ||
Depletion Caldwell Mining Co. acquired mineral rights for $42.500.000. The mineral deposit is estimated at 50,000.000...
Depletion Caldwell Mining Co. acquired mineral rights for $144,500,000. The mineral deposit is estimated at 85,000,000 tons. During the current year, 24,650,000 tons were mined and sold. a. Determine the depletion rate. If required, round your answer to two decimal places. per ton b. Determine the amount of depletion expense for the current year. C. Journalize the adjusting entry on December 31 to recognize the depletion expense. Dec. 31
?invoker eBlook Depletion Caldwell Mining Co. acquired mineral rights for $48,750,000. The mineral deposit is estimated at 65,000,000 tons. During the current year Show Me How Calculator 18,850,000 tons were mined and sold. Determine the depletion rate. It required, round your answer to two decimal places a. b. Determine the amount of depletion expense for the current year. Journalize the adjusting entry on December 31 to recognize the depletion expense. Dec. 31 ぐ. 0
Depletion Earth's Treasures Mining Co. acquired mineral rights for $104,000,000. The mineral deposit is estimated at 65,000,000 tons. During the current year, 20,150,000 tons were mined and sold. a. Determine the depletion rate. If required, round your answer to two decimal places. per ton b. Determine the amount of depletion expense for the current year. C. Journalize the adjusting entry on December 31 to recognize the depletion expense. Dec. 31
Depletion Entries Alaska Mining Co. acquired mineral rights for $67,500,000. The mineral deposit is estimated at 30,000,000 tons. During the current year, 4,000,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimals places. NAN b. Journalize the adjusting entry on December 31 to recognize the depletion expense. Dec 31 — Dec. 31
Depletion Entries Alaska Mining Co. acquired mineral rights for $67,500,000. The mineral deposit is estimated at 30,000,000 tons. During the current year, 4,000,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimal places. b. Journalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not require an entry, leave it blank. Dec. 31 10 more Check My Work uses...
Depletion Entries Alaska Mining Co. acquired mineral rights for $10,514,000. The mineral deposit is estimated at 75,100,000 tons. During the current year, 11,250,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimals places. $ b. Journalize the adjusting entry on December 31 to recognize the depletion expense. ^ ^
Depletion Entries Alaska Mining Co. acquired mineral rights for $27,740,000. The mineral deposit is estimated at 146,000,000 tons. During the current year, 21,900,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimals places. b. Journalize the adjusting entry on December 31 to recognize the depletion expense.
Depletion Entries Alaska Mining Co. acquired mineral rights for $23,368,000. The mineral deposit is estimated at 101,600,000 tons. During the current year, 15,250,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimals places. b. Journalize the adjusting entry on December 31 to recognize the depletion expense.
Alaska Mining Co. acquired mineral rights for $15,938,000. The mineral deposit is estimated at 122,600,000 tons. During the current year, 18,400,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimals places. b. Journalize the adjusting entry on December 31 to recognize the depletion expense.
Alaska Mining Co. acquired mineral rights for $10,598,000. The mineral deposit is estimated at 75,700,000 tons. During the current year, 11,350,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimals places. b. Journalize the adjusting entry on December 31 to recognize the depletion expense.