Question 8.9and10

Question 9 (1 point) Cuono Mining Co. purchased a mine for $8.5 million that is estimated to have 30 million tonnes of ore and a residual value of $300,000. In the first year, 6 million tonnes of ore are extracted and 3 million tonnes are sold. Record annual depletion for the first year, ended August 31, 2017 Your Answer: Answer Question 10 (1 point) Pandora Pants Company acquires a delivery truck on April 6, 2017, at a cost of $48,000. The truck is expected to have a residual value of $7,000 at the end of its four-year life. The company has a policy of recording a half-year's depreciation in the year of acquisition and a half-year's depreciation in the year of disposal. Using the double diminishing-balance metho calculate the depreciation expense for the second year of the equipment's life Enter your answer as a whole number without commas or dollar signs. Your Answer: Question 8 (1 point) Wilbur Company sells equipment on March 31, 2017, for $37,000 cash. The equipment was purchased on January 5, 2014, at a cost of $90,400, and had an estimated useful life of five years and a residual value of $2,200. Wilbur Company uses straight-line depreciation for equipment. Adjusting journal entries are made annually at the company's year end, Calculate the gain or loss on the sale of the equipment. Round answer to nearest whole dollar. Enter without decimal places or dollar signs. If negative enter a "" at the beginning of the number. Your