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During 2014, Bolton Corporation acquired a mineral mine for P1,500,000 of 1 point which P200,000 was ascribed to land value after the mineral has been
During 2014, Bolton Corporation acquired a mineral mine for P1,500,000 of 1 point which P200,000 was ascribed to land value after the mineral has been removed. Geological surveys have Indicated that 10 million units of the mineral could be extracted. During 2014, 2,000,000 units were extracted and 1,600,000 units were sold. What is the amount of depletion expensed for 2014?* O P300,000 P208,000 OP240,000 O P260,000
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Weygandt Kimmel Kieso
10th Edition
0470646462, 978-0470646465
