Exercise 8-29 (Algorithmic) (LO. 8) On March 25, 2019, Parscale Company purchases the rights to a...

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Exercise 8-29 (Algorithmic) (LO. 8) On March 25, 2019, Parscale Company purchases the rights to a mineral interest for $8,563

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Answer 1

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B Α 1 Cost of Mineral rights 2 Divide by Total estimated tons 3 Depletion cost per ton 8563000 804200 10.65 5 Tons sold in 20 Α. B 1 Cost of Mineral rights 8563000 2 Divide by Total estimated tons 804200 3 Depletion cost per ton =B1/B2 4 5 Tons sold i

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