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pls answer asap and don't forget the account explanation(To record assets...) and calculation. theyre two separate journal entries Task 2.1: Zaara's Mining Co. purchased a
pls answer asap and don't forget the account explanation(To record assets...) and calculation. theyre two separate journal entries
Task 2.1: Zaara's Mining Co. purchased a mine for $8 million on July 1, 2014. The mine will generate an estimated 30 million tonnes of nickel. The mine has a residual value of $500 000, and the restoration cost at the end of the mine's useful life is estimated at $600 000. In the first year, 5 million tonnes of nickel were extracted. Prepare the journal entry to record the amortization expense for the first year, ended June 30, 2015. YOU WILL NEED TO DO CALCULATIONS BASED ON THE FORMULA IN THE SLIDES Use This Box For Calculations Journal - Page 30 Date 20-- Accounts and Explanation PR Debit Credit Task 2.2: The following are the transactions concerning the intangible assets of Beaufort Corporation for 2015. Record the journal entries. Feb 15 Purchased a patent with an eight year useful life for $480 000. March 15 Goodwill was purchased along with the assets of another company for $50 000. It has an indefinite useful life
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