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Deep Mining Company estimates that there will be 250,000 tons of available iron ore to be mined in a mineral deposit purchased for $1,100,000.
Deep Mining Company estimates that there will be 250,000 tons of available iron ore to be mined in a mineral deposit purchased for $1,100,000. Salvage value is expected to be $100,000. If 90,000 tons are mined and sold in 2022, what is total depletion charge for the year?
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Fundamental Accounting Principles
Authors: John Wild, Ken Shaw, Barbara Chiappetta
22nd edition
9781259566905, 978-0-07-76328, 77862279, 1259566900, 0-07-763289-3, 978-0077862275
