A company purchased a tract of land for its natural resources at a cost of $2,042,900....
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A company purchased a tract of land for its natural resources at a cost of $2,042,900. It expects to mine 2,190,000 tons of ore from this land. The salvage value of the land is expected to be $269,000. The depletion expense per ton of ore is: |
Multiple Choice
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$8.141.
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$0.933.
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$0.810.
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$1.056.
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$7.594.
Homework Answers
Depletion expense per ton of ore = (cost - salvage value) )/ Expected tons of ore
= (2042900 - 269000) / 2190000
= $0.810
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