Dowling Company, an integrated producer, incurs IDC costs in the following years as indicated The IDC marked with an asterisk ( ) relate to dry hole IDC REQUIRED Compute the amount that may be deducted for IDC in the years 20XA, 20XB, 20XC, and 20XD Date Date Incurred Amount Incurred Amount 2 1 XC ...

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Dowling Company, an integrated producer, incurs IDC costs in the following years as indicated. The IDC marked

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Dowling Company, an integrated producer, incurs IDC costs in the following years as indicated. The IDC marked with an asterisk (*) relate to dry hole IDC.

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REQUIRED: Compute the amount that may be deducted for IDC in the years 20XA, 20XB, 20XC, and 20XD.

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Fundamentals Of Oil And Gas Accounting

ISBN: 9780878147939

4th Edition

Authors: Rebecca A. Gallun, Ph.D. Wright, Charlotte J, Linda M. Nichols, John W. Stevenson

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Question Posted: May 29, 2024 10:00 AM

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Dowling Company, an integrated producer, incurs IDC costs in the following years as indicated. The IDC marked

Question:

Date Date Incurred Amount Incurred Amount 2/1/XC $600,000 3/4/XD $240,000 Date Date Incurred Amount Incurred Amount 3/12/XA $200,000 4/10/XB $280,000* 7/18/XA 300,000 11/2/XB 320,000 12/2/XC 150,000 9/14/XD 180,000

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Fundamentals Of Oil And Gas Accounting

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