QS 8-13 (Algo) Natural resources and depletion LO P3 Perez Company acquires an ore mine at a cost of $2.240,000. It incurs additional costs of $627.200 to access the mine, which is estimated to hold 1,600,000 tons of ore 210,000 tons of ore are mined and sold the first year. The estimated value of the land after the ore is removed is $320.000. Calculate the depletion expense from the information given 1.8 2. Prepare the entry to record the cost of the ore mine and year-end adjusting entry Complete this question by entering your answers in the tabs below. Depletion General Expense Journal Calculate the depletion expense from the information given. (Round "Deplotion per unit' to 3 decimal places) Cool 0.000 Salve 337200 Amount subject to depletion 3120.000) Totals of 307.200 Depletion per un 1000000000 Units extracted and sold in period Depletion pense once General Journal > QS 8-13 (Algo) Natural resources and depletion LO P3 Perez Company acquires an ore mine at a cost of $2.240,000. It incurs additional costs of $627.200 to access the mine, which is estimated to hold 1.600.000 tons of ore 210.000 tons of ore are mined and sold the first year. The estimated value of the land after the ore is removed is $320.000 Calculate the depletion expense from the information given 1. & 2. Prepare the entry to record the cost of the ore mine and year-end adjusting entry Complete this question by entering your answers in the tabs below. Depletion Expense General Joumal Prepare the entry to record the cost of the one mine and year-end adjusting entry View transaction list nces Journal entry worksheet B Record the cost of the ore mine in cash. N Enter Transaction General Journal Debel Credit Recorded Clearly View generala Depletion Expense QS 8-13 (Algo) Natural resources and depletion LO P3 Perez Company acquires an ore mine at a cost of $2.240,000. It incurs additional costs of $627.200 to access the mine, which is estimated to hold 1.600.000 tons of ore 210.000 tons of ore are mined and sold the first year. The estimated value of the land after the ore is removed is $320.000. Calculate the depletion expense from the Information given. 1. & 2 Prepare the entry to record the cost of the ore mine and year end adjusting entry Complete this question by entering your answers in the tabs below. Depletion Expense General Journal Prepare the entry to record the cost of the ore mine and year-end adjusting entry. View transaction list Journal entry worksheet
