Question

WileyPLUS: M A PLUS I Hate Contact Us Los US Weygandt, Financial Accounting, 10e Principles of Accounting I (ACCT 250 Practice Assignment Gradebook ORION Downloadable eTextbook signment CALCULATOR FULL SCREEN PRINTER VERSION BACK Pharoah Company purchased for $4,543,000 a mine that is estimated to have 45,430,000 tons of ore and no salvage value. In the first year, 14,040,000 tons of ore are extracted Your answer is correct. Calculate depletion cost per unit. (Round answer to 2 decimal places, e.g. 0.50.) Depletion cost per unit per ton SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO TUTORIAL Your answer is partially correct. Try again. Prepare the journal entry to record depletion for the first year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense 1404000T Accumulated Depletion 1404000 Police I 2000-2019 John Wiley Sons Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4 24.16

Answer 1

It's Depletion expense, not depreciation expense

Depletion expense	1404000
Accumulated depletion		1404000

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