=+EX 10-19 Depletion entries obj. 4 a. $2,475,000 Cikan Mining Co. acquired mineral rights for $16,200,000.
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=+EX 10-19 Depletion entries obj. 4
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a. $2,475,000 Cikan Mining Co. acquired mineral rights for $16,200,000. The mineral deposit is estimated at 90,000,000 tons. During the current year, 13,750,000 tons were mined and sold.
a. Determine the amount of depletion expense for the current year.
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