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PLEASE HELP NOWWW Surland Company acquires a coal mine at a cost of $1870000 Intangible development costs total 4000 After extraction has occurred, Sunland most
PLEASE HELP NOWWW
Surland Company acquires a coal mine at a cost of $1870000 Intangible development costs total 4000 After extraction has occurred, Sunland most restore the property festimated for at of the obligationis $17 ), after which it can be sold for $204000, Sunland estimates that 6000 tons of coal canto extracted. What is the amount of depletion perton $401 $312 5332 A machine cost $1176000, has annual depreciation of $196000, and has accumulated depreciation of $931000 on December 31, 2020. On April 1, 2021, when the machine has a fair value of $269500, it is exchanged for a machine with a fair value of $1323000 and the proper amount of cash is paid. The exchange had commercial substance. The gain to be recorded on the exchange is 573500 $147000 $0 $49000 Step by Step Solution
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