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please complete in excel P10-33A Accounting for natural resources McCabe Oil Company has an account titled Oil and Gas Properties. McCabe paid $6,200,000 for oil
please complete in excel
P10-33A Accounting for natural resources McCabe Oil Company has an account titled Oil and Gas Properties. McCabe paid $6,200,000 for oil reserves holding an estimated 500,000 barrels of oil. Assume the company paid $510,000 for additional geological tests of the prop- erty and $490,000 to prepare for drilling. During the first year, McCabe removed depletion for the first yearStep by Step Solution
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