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O Future value of cash flows. QUESTION 9 On January 1, 2018, Williams Corp purchased the right to remove coal from an existing mine. The
O Future value of cash flows. QUESTION 9 On January 1, 2018, Williams Corp purchased the right to remove coal from an existing mine. The coal is to be sold to various power plants. The coal mine was purchased for $500,000, with estimated coal of 250,000 tons. During 2018, Williams loaded and sold 50,000 tons of coal and estimated that 200,000 tons remained at December 31, 2018. At January 1, 2019, Williams estimated that 320,000 tons still remained. During 2019, Williams loaded and sold 50,000 tons. Williams uses the units-of-production method. Williams would record depletion in 2019 of: TT T Arial 3 (12pt) T-S-E-SO's Path: P Words:0 QUESTION 10 Changes in the estimates involved in depreciation, depletion, and amortization do not require retroactive restatement of financial statements. True
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