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QUESTION 20 Tebo Energy began operations on January 1, 2020, with the acquisition of a lease in Demitt County. TexasDuring 2019, the following costs were

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QUESTION 20 Tebo Energy began operations on January 1, 2020, with the acquisition of a lease in Demitt County. TexasDuring 2019, the following costs were incurred DOBA recognized and the following revenues recorded Prepare Income Statement for Tebo Energy under Successful Effort (SE) and Full Cost (FC) methods of accounting (10 pts) Revenue G&G Costs Acquisition Costs Exploratory dry hole Successful exploratory well Development wells, dry hole Production Facilities Production Costs DD&A Accumulated DD&A $13,250,000 $1,000,000 $1,100,000 $4,400.000 $6,800,000 $7.500.000 $1,050,000 $ 500,000 $ 90,000 (SE): $125,000 (FC) $ 150,000 (SE: $360,000. (C

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