can you help me solve these two problems please
can you help me solve these two problems please Depletion Entries Alaska Mining Co, acquired mineralights...
can you help me solve these two problems please Depletion Entries Alaska Mining Co, acquired mineralights 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 veat. Round the depletion rate to two decimal places IIIIM b. Deurnalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not require an entry leave it...
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...
Amortization Entries Kleen Company acquired patent rights on January 10 of Year 1 for $2,800,000. The patent has a useful life equal to its legal life of eight years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $38,000. a. Determine the patent amortization expense for Year 4 ended December 31. b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization. If an amount box does...
NEED HELP!!!!!! Amortization Entries Kleen Company acquired patent rights on January 10 of Year 1 for $368,000. The patent has a useful life equal to its legal life of eight years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $18,500. If required, round your answer to the nearest dollar. a. Determine the patent amortization expense for the Year 4 ended December 31. b. Journalize the adjusting entry on December 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
Amortization Entries Kleen Company acquired patent rights on January 10 of Year 1 for $432,000. The patent has a useful life equal to its legal life of eight years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $21,500. If required, round your answer to the nearest dollar. a. Determine the patent amortization expense for the Year 4 ended December 31. $ Feedback b. Journalize the adjusting entry on December 31...
Kleen Company acquired patent rights on January 10 of Year 1 for $440,000. The patent has a useful life equal to its legal life of eight years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $22,000. If required, round your answer to the nearest dollar. a. Determine the patent amortization expense for the Year 4 ended December 31. b. Journalize the adjusting entry on December 31 of Year 4 to...
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.