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See below. Brief Exercise 10-11 al-b Concord Mining Co. purchased for $9.459,900 a mine that is estimated to have 41,130,000 tons of ore and no
See below.
Brief Exercise 10-11 al-b Concord Mining Co. purchased for $9.459,900 a mine that is estimated to have 41,130,000 tons of ore and no salvage value. In the first year, 12,020,000 tons of ore are extracted. Calculate depletion cost per unit. (Round answer to 2 decimal places, e.g. 0.50.) Depletion cost per unit $ per ton LINK TO TEXT Prepare the journal entry to record depletion for the first year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Credit Debit LINK TO TEXT Show how this mine is reported on the balance sheet at the end of the first year. Concord Mining Co. Balance Sheet (Partial) S $ Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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