Answered step by step
Verified Expert Solution
Question
1 Approved Answer
at the beginning of 2 0 2 5 , Ayayai company acquired a mine for 1 2 2 8 7 0 0 . Of this
at the beginning of Ayayai company acquired a mine for Of this amount,. was ascribed to the land value and the remaining portion to the minerals in the mine. Surveys conducted by geologists have indicated that approximately units of ore appear to be in the mine. Ayayai incurred of development costs associated with this mine prior to any extraction of minerals. it also determined that the fair value of its obligation to prepare the land for an alternative use when all of the minteral has been removed was during units of ore were extracted and of these units were sold.
A The total amount of depletion for : Calculate the total amount of depletion for
B The amount that is charged as an expense for for the cost of the minerals sold during : Calculate the cost of the minerals sold during
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started