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LUS LUS Help System Announcements fermediate Accounting, 1%e CALCULATOR PINTER VERSION BACK NEKED JRCES Problem 11-05 (Part Level Submission) Sunland Mining Company has purchased a tract of mineral land for $1,134,000. It is estimated that this tract will yield 151,200 tons of ore with cent mineral content to make mining and processing profitable. It is further estimated that 7,560 tons of ore will be mined the first and last year and 15,120 tons every year in between (Assume 11 years of mining operations. The land will have a salvage value of $37,800 The company builds necessary structures and sheds on the site at a cost of $45,360. It is estimated that these structures can ve 15 years b e they must be dismantled they are to be moved, they have no savage value. The company does not intend to use the buildings where. Mining machinery installed at the mine was purchased secondhand at a cost of $75,600. This machinery cost the former owner $189,000 and was so depreciated when purchased. Sunland Mining estimates that about half of this machinery will still be useful when the present mineral resources have been exhausted, but that dismantling and removal costs will just about offset it value at that time. The company does not intend to use the machinery elsewhere. The remaining machinery will last until about one-half the present a te mineral ore has been removed and will then be worthless. Cost is to be allocated equally between these two cases of machinery (a) them As chief accountant for the company, you are to prepare a schedule showing estimated depletion and depreciation costs for each year of the e (Round per unit answers to 2 decimal places 0.45 for computational purposes and a nswers to decimal cted 2) Estimated depletion cost Year Depletion 19 YC Estimated depreciation cos CALCULATOR PRINTER VERSION RESOURCES 11th Yr. ECOZ -04 Year Building Estimated depreciation cost Machinery (1/2) Useful at End Machinery (1/2) Worthless at End -14 (Part son) -23 -25 -07 (Part assion) - -02 --05 (Part mission) 1-09 (Part mission) ults by Study 20th yr. 11th Yr. LINK TO TEXT LINK TO TEXT Attempts: O of Sused SAVE FOR LATER SUBMIT AN (b) The parts of this question must be completed in order. This part will be available when you complete the part above