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On July 1, 2020, Coronado AG invested CHF788,900 in a mine estimated to have 805,000 tons of ore of uniform grade. During the last 6
On July 1, 2020, Coronado AG invested CHF788,900 in a mine estimated to have 805,000 tons of ore of uniform grade. During the last 6 months of 2020, 131,000 tons of ore were mined. Calculate depletion cost per unit. (Round answer to 2 decimal places, e.g. 0.50.) Depletion cost per unit CHF 0.98 Prepare the journal entry to record depletion. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Dec. 31 Debit Credit Assume that the 131,000 tons of ore were mined, but only 90,000 units were sold. How are the costs applicable to the 41,000 unsold units reported? Reported in
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