Required Information The following information applies to the questions displayed below On July 23 of the current year, Dakota Mining Co. pays $6.383.520 for land estimated to contain 8,184,000 tons of recoverable ore. It insta s and pays for machinery costing $1063.920 on July 25. The company removes and sells 420,750 tons of ore during its first five months of operations ending on December 31 Depreciation of the machinery is in proportion to the mine's depletion as the machinery w be abandoned after the one is mined. Required: Prepare entries to record the following. (Do not round your intermediate calculations. Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar.) (a) The purchase of the land. (b) The cost and Installation of machinery. (c) The first five months' depletion assuming the land has a net salvage value of zero after the ore is mined. (d) The first five months' depreciation on the machinery Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required B C1 C2 D1 D2 Prepare the journal entry to record the purchase of the land. View transaction list Journal entry worksheet Record the cost of the ore mine of $6,383,520 cash. Note: Enter debits before credits Date General Journal Jul 223 Debit Credit Record entry Clear entry View general journal RE Required B > Required information The following information applies to the questions displayed below On July 23 of the current year, Dakota Mining Co. pays $6,383,520 for land estimated to contain 8,184,000 tons of recoverable ore. It insta s and pays for machinery costing $1063.920 on July 25. The company removes and sells 420.750 tons of ore during its first five months of operations ending on December 31 Depreciation of the machinery is in proportion to the mine's depletion as the machinery w be abandoned after the ore is mined. Required: Prepare entries to record the following. Do not round your intermediate calculations. Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar.) (a) The purchase of the land. (b) The cost and insta ation of machinery (c) The first five months' depletion assuming the land has a net salvage value of zero after the ore is mined. (d) The first five months' depreciation on the machinery Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required B C1 C2 D1 D2 Prepare the journal entry to record the cost and installation of machinery. View transaction list Journal entry worksheet Record the cost of the machinery of $1,063,920 cash. Note: Enter debits before credits. Date General Journal Debit Den Credit Record entry Clear entry View general journal (Required A Required C1 > Required information The following information applies to the questions displayed below On Juy 23 of the current year, Dakota Mining Co. pays $6,383 520 for land estimated to contain 8,184 000 tons of recoverable ore. It installs and pays for machinery costing $1,063 920 on Ju 25. The company removes and sells 420.750 tons of ore during first five months of operations enging on December 31 Depreciation of the machinery is in proportion to the mine's depletion as the machinery will be abandoned after the ore ls mined. Required: Prepare entries to record the following. Do not round your intermediate calculations. Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar.) (a) The purchase of the land. (b) The cost and insta ation of machinery. (c) The first five months' depletion assuming the land has a net salvage value of zero after the ore is mined. (d) The first five months' depreciation on the machinery Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required A B C1 C2 D1 D2 To record the first five months' depletion assuming the land has a net salvage value of zero after the ore is mined. Select formula for Units of Production Depletion Calculate depletion expense: Depletion per ton Tonnage Depletion expense Required information The following information applies to the questions displayed below On July 23 of the current year, Dakota Mining Co. peys 56,383,520 for land estimated to contain 8,184,000 tons of recoverable ore. It installs and pays for machinery costing $1063.920 on July 25. The company removes and sells 420,750 tons of ore during its first five months of operations ending on December 31 Depreciation of the machinery is in proportion to the mine's depletion as the machinery w be abandoned after the ore s mned. Required: Prepare entries to record the following. Do not round your intermediate calculations. Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar.) (a) The purchase of the land (b) The cost and Installation of machinery. (c) The first five months depletion assuming the land has a net salvage value of zero after the ore is mined. (d) The first five months' depreciation on the machinery Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required B C1 C2 D1 D2 Prepare the journal entry to record depletion of the Mineral deposit at December 31. View transaction list Journal entry worksheet Record the year-end adjusting entry for the depletion expense of ore mine. Note: Enter debits before credits. Date General Journal Dec. 31 Debit Credit Record entry Clear entry View general journal Required information The following information applies to the questions displayed below On July 23 of the current year, Dakota Mining Co. pays $6.383.520 for land estimated to contain 8,184000 tons of recoverable ore. It installs and pays for machinery costing $1,063 920 on JV 25. The company removes and sells 420.750 tons of ore during its first five months of operations ending on December 31 Depreciation of the machinery is in proportion to the mine's depletion as the machinery will be abandoned after the one is mined. Required: Prepare entries to record the following. (Do not round your intermediate calculations. Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar.) (a) The purchase of the land. (b) The cost and Installation of machinery. (c) The first five months' depletion assuming the land has a net salvage value of zero after the ore is mined. (d) The first five months' depreciation on the machinery Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required Ci C2 D1 D2 To record the first five months' depreciation on the machinery. Select formula for Units of Production Depreciation: Calculate Depreciation expense: Depreciation per ton Tonnage Depreciation expense Required information The following information applies to the questions displayed below On July 23 of the current year, Dakota Mining Co. pays $6.383_520 for land estimated to contain 8.184 000 tons of recoverable ore. It installs and pays for machinery costing $1063 920 on July 25. The company removes and ses 420.750 tons of ore during its first five months of operations enging on December 31 Depreciation of the machinery is in proportion to the mine's depletion as the machinery w be abandoned after the ore is mined. Required: Prepare entries to record the following. Do not round your intermediate calculations. Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar.) (a) The purchase of the land. (b) The cost and Insta ation of machinery. (c) The first five months depletion assuming the land has a net salvage value of zero after the one is mined. d) The first five months' depreciation on the machinery Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required B C1 C2 D1 D2 Prepare the journal entry to record depreciation of the machine at December 31 View transaction list Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of the machinery. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31 Record entry Clear entry View general journal (Required D1 Required D2