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21. Aggie Oil Company incurred and paid the following costs during 2006: Record the above transactions Aggie Oil Company incurred and paid the following costs

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21. Aggie Oil Company incurred and paid the following costs during 2006: Record the above transactions

Aggie Oil Company incurred and paid the following costs during 2006: Acquisition costs well: Drilling contractor's Cha esda -rate Casing Production ui ment well logs Drilling results Lease A Un roved $ 30,000 Exploratory 1 80,000 30,000 10.000 well dry; abandon lease Lease B Un roved $ 35,000 Exploratory 200,000 35 ,ooo 15,000 Found proved reserves Lease C Proved Pu rchased in 2003 Development $160,000 28,000 12,000 Well dry Lease D Purchased in 2005 Development $190,000 22,000 80,000 14.000 Found proved reserves Record the above transactions.

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