10.8)

A) determine the amount of depletion expense for the current year. $

B) journalize the adjusting entry to recognize the depletion expense.

Big Sky Mining Co. acquired mineral rights for $42,000,000. The mineral deposit is estimated at 20,000,000 tons. During the current year, 1,850,000 Required A. Determine the amount of depletion expense for the current year. B. Journalize the adjusting entry to recognize the depletion expense. Refer to the Chart of account titles. (Note: The company makes all adjusting entries on December 31.)