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On July 1, 2022. Larkspur, Inc. invested $ 777,380 in a mine estimated to have 827,000 tons of ore of uniform grade. During the last
On July 1, 2022. Larkspur, Inc. invested $ 777,380 in a mine estimated to have 827,000 tons of ore of uniform grade. During the last 6 months of 2022, 100,000 tons of ore were mined. Your answer is correct. Calculate depletion cost per unit. (Round answer to 2 decimal places, eg. 0.50.) Depletion cost per unit $ 0.94 eTextbook and Media List of Accounts Your answer is partially correct. Prepare the journal entry to record depletion. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Inventory 94,000 Accumulated Depreciation Equipment 94,000 eTextbook and Media List of Accounts Your answer is incorrect. Assume that the 100,000 tons of ore were mined, but only 84,000 units were sold. How are the costs applicable to the 16,000 unsold units reported? The costs pertaining to the unsold units are reported in current abilities as part of accounts payable vats[ at $ e Textbook and Media Your answer is partially correct. Prepare the journal entry to record depletion. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31 Inventory 94,000 Accumulated Deprecation-Equipment 94,000 e Textbook and Media List of Accounts current liabilitles Your answer is incorre Investments Assume that the 100.000 tong unsold units reported? only 84,000 units were sold. How are the costs applicable to the 16,000 current assets 2 unsold units are reported in current liabilitles as part of accounts payable at $ 68,960 ToscibooleandMadia
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