Question
O'Reilly Corp. purchased a mine on January 1, 2016, for $ 506,000. The mine is estimated to contain 31,000 tons of iron ore. There is
O'Reilly Corp. purchased a mine on January 1, 2016, for $ 506,000. The mine is estimated to contain 31,000
tons of iron ore. There is no residual value. The business extracted and sold 8,500 tons of ore in 2016 and 14,800
tons of ore in 2017. What is the book value of the mine at the end of 2017? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A. $ 354,200
B. $ 506,000
C. $ 125,744
D. $ 444,000
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Accounting What The World's Best Forensic Accountants And Auditors Know About Forensic Accounting And Auditing That You Dont
Authors: Greg Shields
1st Edition
1647483255, 978-1647483258
