Question
2:39 Back Comperhansive Example... Q At the end of the first year, no impairment was assessed on the properties. e. During the second year,
2:39 Back Comperhansive Example... Q At the end of the first year, no impairment was assessed on the properties. e. During the second year, Tyler Company incurred and paid the following items: 1) Ad valorem taxes of $1,500 on Lease A 2) Dry-hole contribution, $20,000 3) Legal costs for title defense, 58,500 on Lease C 4) Bottom-hole contribution, $15,000 5) Nonrecoverable delinquent taxes on Lease A, $2,000 (specified in lease contract) 6) Recoverable delinquent taxes on Lease 8,51,500 7) Delay rentals on Leases A, C, and D, 56,000 8) Delay rental on Lease B, $2,000
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