company estimates that the property will be sold for $$110,000$ when production at the mine has ended. During the last six months of

$2024,110,000$ tonnes of ore are mined and sold. Splish Brothers has a December $31$ fiscal year end.

Your answer is correct.

Record the $2024$ depletion. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no

entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry. Round depletable

amount per tonne to $2$ decimal places, e$.$g$.5\mathrm{.}27$ and final answers to $0$ decimal places, e$.$g$.5,276.)$

Attempts: $1$ of $2$ used

$(c1)$

Your answer is partially correct.

Show how the mine and any related accounts are reported on the December $31,2024,$ income statement.

SPLISH BROTHERS EXPLORATION

Income Statement $($Partial$)$

For the Year Ended December $31,2024$

Accumulated Depletion $-$ Resource

$

$(c2)$

Show how the mine and any related accounts are reported on the December $31,2024,$ balance sheet.

SPLISH BROTHERS EXPLORATION

Balance Sheet $($Partial$)$

Assets

Property, Plant, and Equipment