Zepher Company acquired 100% of the WI in an unproved property at a cost of ($50,000). Zepher

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Zepher Company acquired 100% of the WI in an unproved property at a cost of \($50,000\). Zepher later sold the WI, retaining an overriding royalty interest (ORI). Give the entry to record the conveyance of the WI, assuming Zepher is a SE company and received $30,000.

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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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