Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can someone solve all parts to this question and include all workings! 55 Incurred to develop the mine. Geologists estimated that 400,000 tons of ore
Can someone solve all parts to this question and include all workings!
55 Incurred to develop the mine. Geologists estimated that 400,000 tons of ore would be Afterthe ore removed 'lh land WII! have resale value of $112000. Suctures have useful Ilfe of 10 years. The structures Cannot be moved after the ,ore has been removed and: 'WIII be Jeftat the to another slte, but est!mates that It can be soldi at auction for $7,000 after the mtrdrig progect comple!ed; In 2024, 62000 tong of ore were extracted and gold. In 2025, the estrmate oftotal ton$ of oretjn the mtnewag revised from 400,000 to 419.500. Dunng 2025.95.000 tong were extractecL Requlred: 1. Compute depletlon, and depreclation of the mine and the 'ITInrng fCiltoes and equtpment 2024 and2023 ilitam gege use; the unrtg-of-production method to determne depreclatlonon; m!lllng facllltteg and equtpment Z Compute the book value of fie mtneral; mine, structures, and eqyopment as of December 311 20251 Complete this question by entering your answers in theiabs, below, Required 'RequirQU 2 Compute depletion end dprezi*an Clf the mine mininglEZititis@fi equipment for 2024 and 2025. uses the unts+praducti#tfiethod to determine: deprecizn nd Do not round intermediste Deplzon for Strueures for Equipment
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