Harrison Properties purchases a 1/8 ORI for $10,000. Proved reserves for Harrison at year-end 2021 are 20,000

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Harrison Properties purchases a 1/8 ORI for $10,000. Proved reserves for Harrison at year-end 2021 are 20,000 barrels, and production for 2021 was 3,000 barrels.

REQUIRED: Prepare journal entries for Harrison Properties and compute DD&A for 2021.

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Fundamentals Of Oil And Gas Accounting

ISBN: 9781593703639

6th Edition

Authors: Charlotte Wright

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Question Posted: Mar 08, 2024 10:02 AM

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Harrison Properties purchases a 1/8 ORI for $10,000. Proved reserves for Harrison at year-end 2021 are 20,000

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Fundamentals Of Oil And Gas Accounting

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