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Parad Oil I.td was incorporated in 2011, and has two oil mining lease reserves (Pat and Randy) in commercial quantities which were discovered in 2020
Parad Oil I.td was incorporated in 2011, and has two oil mining lease reserves (Pat and Randy) in commercial quantities which were discovered in 2020 . W wenses to date in each of the leases were as follows: A). You are required to compute DD \& A for 2020 and show the figures, which would appear in the statement of financial position and Profit or Loss Statement for the year 2020 under: i. Full cost method ii. Successful effort method B). In 2021, there were no additional capitalised cost and Reserves and production data of crude r. .... n....... nnat ....wn ne fallowe. Calculate the DD \& A for 2021 and show the figures which would appear in the statement financial position and Statement of Profit or Loss for the year 2021 under: i. Full cost method ii. Successful effort method C). Under oil and gas accounting for the upstream, what is "abandonment cost"? How is abandonment cost treated in the accounting for oil and gas? Parad Oil I.td was incorporated in 2011, and has two oil mining lease reserves (Pat and Randy) in commercial quantities which were discovered in 2020 . W wenses to date in each of the leases were as follows: A). You are required to compute DD \& A for 2020 and show the figures, which would appear in the statement of financial position and Profit or Loss Statement for the year 2020 under: i. Full cost method ii. Successful effort method B). In 2021, there were no additional capitalised cost and Reserves and production data of crude r. .... n....... nnat ....wn ne fallowe. Calculate the DD \& A for 2021 and show the figures which would appear in the statement financial position and Statement of Profit or Loss for the year 2021 under: i. Full cost method ii. Successful effort method C). Under oil and gas accounting for the upstream, what is "abandonment cost"? How is abandonment cost treated in the accounting for oil and gas
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