mineral rights for $$,000,000. The mineral deposit is estimated at 500,000 tons and during yearl (a) Calculate depletion expense for the year ng the year 125,000 tons were extracted and sold. ANS: Indicate the section of the balance sheet (Current Assets, Fixed Assets, Investments, Current Liabilities, Long-Term Liabilities, Stockholders' Equity) in which each of the following is reported: (a) Note receivable due in 3 years (b) Note receivable due in 90 days (c) Allowance for doubtful accounts During the installation of t were located on the tower After collecting wind spee given site. In Figure 2 bek Towers Wind Study is pres time and total energy can b Beginning inventory, purchases, and sales for Product- Weld TM are as follows: Sep. 1 Begining lnventory24 units Sep. 17 Purchase Sep. 30 Sale 1 $10 17 units 10 units @ 8 units 5 Sale $15 Assuming a perpetual inventory system and the last-in, first-out method, determine (a) The Cost