Grouper Ltd acquired the rights to use 2,100 hectares of land in northern Alberta to mine for uranium The cost of the land was $102,000, exploration costs were $212,000, and the development costs incurred were $666,000 All of these costs were capitalized The company estimated that the mine would produce about 245,000 ounces of uranium In the first year, 27,400 ounces were extracted from the mine, of which 10,500 were sold Assume all purchases were cash account list Accumulated Depletion Accumulated Depreciation Automobiles Accumulated Depreciation Buildings Accumulated Depreciation Equipment Accumulated Depreciation Furniture and Fixtures Accumulated Depreciation Machinery Accumulated Depreciation Vehicles Accumulated Impairment Losses Building Accumulated Impairment Losses Equipment Accumulated Impairment Losses Land Accumulated Impairment Losses Machinery Accumulated Impairment Losses Mine Accumulated Impairment Losses Patents Accumulated Impairment Losses Tools and Dies Accumulated Impairment Losses Vehicles Asset Retirement Obligation Buildings Cash Common Shares Contribution Expense Cost of Goods Sold Deferred Revenue Government Grants Depreciation Expense Equipment Furniture and Fixtures Gain on Disposal of Automobiles Gain on Disposal of Building Gain on Disposal of Equipment Gain on Disposal of Furniture and Fixtures Gain on Disposal of Machinery Gain on Disposal of Vehicles Gain on Sale of Land Interest Expense Interest Payable Inventory Investment Property Land Liability for Site Restoration Loss on Disposal of Automobiles Loss on Disposal of Building Loss on Disposal of Equipment Loss on Disposal of Machinery Loss on Disposal of Vehicles Loss on Expropriation Loss on Impairment Loss on Sale of Land Machinery Mineral Resources No Entry Notes Payable Oil Property Recovery of Loss from Impairment Repairs and Maintenance Expense Retained Earnings Revaluation Surplus (OCI) Revenue Government Grants Royalty Expense Vehicles Grouper Ltd acquired the rights to use 2,100 hectares of land in northern Alberta to mine for uranium The cost of the land was $102,000, exploration costs were $212,000, and the development costs incurred were $666,000 All of these costs were capitalized The company estimated that the mine would produce about 245,000 ounces of uranium In the first year, 27,400 ounces were extracted from the mine, of which 10,500 were sold Assume all purchases were cash Prepare the journal entry on the books of Grouper Ltd to record the purchase and capitalization of the mine (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 ) eTextbook and Media Prepare the journal entry on the books of Grouper Ltd to record depletion costs for the first year (Round per unit cost to 2 decimal places e g 5 75 and final answers to 0 decimal places, e g 5,275 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 ) Prepare the journal entry on the books of Grouper Ltd to record the cost of uranium sold for the first year (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 0 for the amounts List debit entry before credit entry Do not round intermediate calculations Round final answers to 0 decimal places, e g 5,275 )

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Grouper Ltd. acquired the rights to use 2,100 hectares of land in northern Alberta to mine for uranium. The cost of the land was $102,000,

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Accumulated Depletion
Accumulated Depreciation - Automobiles
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated Depreciation - Furniture and Fixtures
Accumulated Depreciation - Machinery
Accumulated Depreciation - Vehicles
Accumulated Impairment Losses - Building
Accumulated Impairment Losses - Equipment
Accumulated Impairment Losses - Land
Accumulated Impairment Losses - Machinery
Accumulated Impairment Losses - Mine
Accumulated Impairment Losses - Patents
Accumulated Impairment Losses - Tools and Dies
Accumulated Impairment Losses - Vehicles
Asset Retirement Obligation
Buildings
Cash
Common Shares
Contribution Expense
Cost of Goods Sold
Deferred Revenue - Government Grants
Depreciation Expense
Equipment
Furniture and Fixtures
Gain on Disposal of Automobiles
Gain on Disposal of Building
Gain on Disposal of Equipment
Gain on Disposal of Furniture and Fixtures
Gain on Disposal of Machinery
Gain on Disposal of Vehicles
Gain on Sale of Land
Interest Expense
Interest Payable
Inventory
Investment Property
Land
Liability for Site Restoration
Loss on Disposal of Automobiles
Loss on Disposal of Building
Loss on Disposal of Equipment
Loss on Disposal of Machinery
Loss on Disposal of Vehicles
Loss on Expropriation
Loss on Impairment
Loss on Sale of Land
Machinery
Mineral Resources
No Entry
Notes Payable
Oil Property
Recovery of Loss from Impairment
Repairs and Maintenance Expense
Retained Earnings
Revaluation Surplus (OCI)
Revenue - Government Grants
Royalty Expense
Vehicles

Grouper Ltd. acquired the rights to use 2,100 hectares of land in northern Alberta to mine for uranium. The cost of the land was $102,000, exploration costs were $212,000, and the development costs incurred were $666,000. All of these costs were capitalized. The company estimated that the mine would produce about 245,000 ounces of uranium. In the first year, 27,400 ounces were extracted from the mine, of which 10,500 were sold. Assume all purchases were cash. Prepare the journal entry on the books of Grouper Ltd. to record the purchase and capitalization of the mine. (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.) eTextbook and Media Prepare the journal entry on the books of Grouper Ltd. to record depletion costs for the first year. (Round per unit cost to 2 decimal places e.g. 5.75 and final answers to 0 decimal places, e.g. 5,275. 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.) Prepare the journal entry on the books of Grouper Ltd. to record the cost of uranium sold for the first year. (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 0 for the amounts. List debit entry before credit entry. Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 5,275.)