On April 1, 20x0, ABC Co. acquired a limestone quarry for P10,000,000. After the mineral resources are extracted, the quarry can be sold for a scrap value of P3,000,000. Additional information follows: Estimated total reserves, tons Tons quarried through 12/31/x2 Tons quarried in 20x3 Sales 10,000,000 4,000,000 1,500,000 5,000,000 An engineering study performed in 20x3 indicated that as of January 1, 20x3,7,500,000 tons of limestone were available. HOW MUCH IS THE DEPLETION IN 20X3? Answer: On April 1, 20x0, ABC Co. acquired a limestone quarry for P10,000,000. After the mineral resources are extracted, the quarry can be sold for a scrap value of P3,000,000. Additional information follows: Estimated total reserves, tons Tons quarried through 12/31/x2 Tons quarried in 20x3 Sales 10,000,000 4,000,000 1,500,000 5,000,000 An engineering study performed in 20x3 indicated that as of January 1, 20x3,7,500,000 tons of limestone were available. HOW MUCH IS THE DEPLETION IN 20X3