Bering Rock acquires a granite quarry at a cost of $590,000, which is estimated to contain 200,000 tons of granite and is expected to take 6 years to remove. What journal entry would be needed to record the expense for the first year assuming 38,000 tons were removed and sold? Multiple Choice Debit Depletion Expense $112,100, credit Accumulated Depletion $112,100 Debit Amortization Expense $112,100, credit Natural Resources $112.00 Debit Depreciation Expense $93,158; credit Accumulated Depreciation $93,158 Debit Depletion Expense $93,158, credit Accumulated Depletion $93.158, Debit Depreciation Expense $98,333, credit Accumulated Depreciation $98.333. Submit Halo Save A company discarded a computer system originally purchased for $18,000. The accumulated depreciation was $12200. The company should recognize alan Me Choice 30 win or los SOO 100 g $8.000 $7.200 An asset's book value is $18,000 on December 31, Year 5. Assuming the asset is sold on December 31, Year 5 for $15,000, the company should record Multiple Choice A loss on sale of $12.000 A gain on sale of $12,000 Nether again not a loss is recognized on this transaction Again on sale of $3,000 Alors on sale of $3.000 Next > 22 of 25 !!! Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $100,000. The asset is expected to have a salvage value of $20,000 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset's book value on December 31, Year 2 will be: Multiple Choice $36.000 $42.000 $54.000 $16.000 Next >