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Colorado Mining paid $582100 to acquire a mine with 804,000 tons of coal reserves. The horizontal statements model reflects Colorado Mining's financial condition just prior

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Colorado Mining paid $582100 to acquire a mine with 804,000 tons of coal reserves. The horizontal statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 422.100 tons of coal in Year and 361.800 tons In Year 2 Required o. Compute the depletion charge per unit b. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model like the preceding one. c. Prepare the general Journal entries to record the depletion expense for years 1 and 2. Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare the general journal entries to record the depletion expense for years 1 and 2. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round depletion charge per unit to two decimal places. Round your final answers to the nearest whole dollar) es View transaction list Journal entry worksheet Saved Dynamo Manufacturing paid cash to acquire the assets of an existing company Among the assets acquired were the following items Patent with 4 remaining years of legal life Goodwill $ 40,000 35,000 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model Balance Sheet Cash 99,000 + . Assets Patent NA Goodwill NA Liabilities NA Stockholders Equity 90,000 Income Statement Statement of Cash Expenses Net Income Flows NA NA NA Revenue NA Required a. Compute the annual amortization expense for these items. b. Show the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model c. Prepare the journal entries to record the acquisition of the intangible assets and the related amortization for year 1 Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare the journal entries to record the Scquisition of the intangible assets and the related amortization for year 1. (If no entry is required for a transaction/event, select "No journal entry required in the first account feld.) View transaction list Journal entry worksheet

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