Homework Answers
| For Question No.1 | For Question No.2 | ||||||
| Amount in US$ | Amount in US$ | ||||||
| value of Asset | 5500000 | value of Asset | 4300000 | ||||
| Add: | Add: | ||||||
| Development cost | 1300000 | ||||||
| Salvage Price | -290000 | Salvage Price | -390000 | ||||
| Total cost | 6510000 | Total cost | 3910000 | ||||
| Total extraction | 2100000 | Tons | Total extraction | 10000000 | Tons | ||
| Depletion Rate | 3.1 | Depletion Rate | 0.391 | ||||
| Extraction for 2017 | 620000 | Tons | Extraction for 2017 | 1500000 | Tons | ||
| Amount of Depletion | 1922000 | Amount of Depletion | 586500 | ||||
| For question No.1, The 1922000(answer is not given) | |||||||
| That why iam solving as under | |||||||
| Sales for 2017 | 540000 | ||||||
| Amount of Depletion | 1674000 | ||||||
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Question 3 Current Atterin Progres in January 2017.Crane Company purchased mineraline for 55500000 with removable ested...
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View Policies Current Attempt in Progressa During 2017, Coronado Industries acquired a mineral mine for $4300000 of which $390000 was ascribed to land walue after the mineral has been removed. Geological surveys have indicated that 10 milion units of the mineral could be extracted During 2017, 1500000 units were extracted and 1210000 units were sold What is the amount of depletion expensed for 2017 Current Attempt in Progress In January, 2017.Crane Company purchased a mineral mine for $5500000 with removable...
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View Policies Current Attempt in Progressa During 2017, Coronado Industries acquired a mineral mine for $4300000 of which $390000 was ascribed to land walue after the mineral has been removed. Geological surveys have indicated that 10 milion units of the mineral could be extracted During 2017, 1500000 units were extracted and 1210000 units were sold What is the amount of depletion expensed for 2017 Current Attempt in Progress In January, 2017.Crane Company purchased a mineral mine for $5500000 with removable...
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