27 of 41 (23 complete) This Test: 41 pts pos Aspen Ore purchased a vein of...

Question

Question

Answer 1

Answer #1

The depletion expense for the year is calculated as follows:

Depletion expense = (Year's extraction / available extraction )* purchased amount

Depletion expense = (27,50,000/33,000,000)*$52,70,000 = $439167

Therefore, the correct answer is D : $440000

Answer 2

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