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Please help me on this one Alaska Mining Co. acquired mineral rights for $9,392,000. The mineral deposit is estimated at 58,700,000 tons. During the current
Please help me on this one
Alaska Mining Co. acquired mineral rights for $9,392,000. The mineral deposit is estimated at 58,700,000 tons. During the current year, 8,800,000 tons were mined and so a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimals places. x b. Journalize the adjusting entry on December 31 to recognize the depletion expense. Depletion Expense Accumulated Depletion 9,000,000 X
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