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Alaska Mining Co. acquired mineral rights for $15,938,000. The mineral deposit is estimated at 122,600,000 tons. During the c
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Answer #1

a. Depletion expense for current year = $15938000*18400000/122600000 = $2392000

b.

Accounts Debit Credit
Depletion expense 2392000
Accumulated Depletion 2392000
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