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Question 13 Abe Petroleum had the following account balances for the years shown relating to a proved property: 31/12/19 31/12/20 Proved property cost $60,000

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Question 13 Abe Petroleum had the following account balances for the years shown relating to a proved property: 31/12/19 31/12/20 Proved property cost $60,000 $60,000 Accumulated DO&A-proved property 12,000 Wells and equipment-IDC. 700,000 900,000 Accumulated DO&A-Wells and equipment-IDC. 120,000 Wells and equipment-LAWE 500.000 650,000 Accumulated DD&A-Wells and equipment-LAWE 110,000 2019 2020 Proved reserves 31/12 Proved developed reserves 31/12 Production during 2019 and 2020..> 1,600,000 Mcf 1.800.000 Mcf 1,000,000 Mcf 1,400,000 Mcf 80.000 Mcf 120.000 Mcf Required: Compute DD&A for the year ended 31/12/20 (Show your calculation)

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