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Need help! Depletion and amortization ALT-DEPLETION AND AMORTIZATION TOTAL SCOR There are 5 problems in this set. Choose aBumber between 1 and S: LINE DATE
Need help! Depletion and amortization ALT-DEPLETION AND AMORTIZATION TOTAL SCOR There are 5 problems in this set. Choose aBumber between 1 and S: LINE DATE GENERAL JOURNAL CREDIT GRADE Date 1/17 Marzano Corporation issued 1,000,000 shares of $1,00 par common tock for $1.00 per share 1/17 Marzano purchaseda patent frem another commpany. The cost was $48,000 paid in cash. The patent has an estimated life of 10 rs with no salvage value 5/17 Marzano purchased an iron mine, paying cash of $400,000. The mine is expected to produce 100,000 tons of iron ore 231/17 Adi: Record straight line amortization on the Pate for 2017 (partial year) 2/31/17 Adj: Record depletion on the Iree Mine foe 2017 based en extraction of 10,000 13 14 15 16 17 tons of iron ore 19 20 TRIAL BALANCE CASH IRON MINE ACCUM DEPLETION-IRON MINE PATENT COMMON STOCK PATENT AMORTIZATION EXPENSE DEPLETION EXPENSE DEBIT CREDIT
Need help! Depletion and amortization
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