Use the following information to answer questions 15-23.

Aggie Oil has interests in three leases, all obtained in January 2014, which cover the same field. Two of the leases are proved. The well on the third lease, Lease C, is incomplete and the lease remains unproved. Aggie decides to use the field as a cost center for DD&A. Information for each lease as of December 31, 2014, is as follows:

	Lease A	Lease B	Lease C
Acquisition costs	$50,000	$40,000	$43,000
IDC costs	102,000	81,000	80,000
TDC costs	40,000	22,000	21,000
Production during 2014	8,000 bbl	6,000 bbl	0
Estimated proved reserves, 12/31/2014	950,000 bbl	650,000 bbl	0
Estimated proved developed reserves, 12/31/2014	100,000 bbl	50,000 bbl	0

Determine 2014 amortization expense and show the balance sheet presentation using the account titles above as of 12/31/2014. Indicate contra asset accounts with parentheses ().

Balance Sheet
Unproved Acquisition Costs	#15
roved Acquisition Costs	#16
Accum. Amortization of Proved Property Acquisition Costs	#17
WIP IDC exploratory wells	#18
WIP TDC exploratory wells	#19
IDC development wells	#20
Accum. Amortization of IDC Development Costs	#21
TDC development wells	#22
Accum. Amortization of TDC Development Costs	#23

15. Determine the balance in the unproved property acquisition cost account.

QUESTION 16

16. Determine the balance in proved property acquisition costs.

QUESTION 17

17. Determine the balance in accumulated amortization of proved property acquisition costs.

QUESTION 18

18. Determine the balance in the WIP IDC - exploratory wells account.

QUESTION 19

19. Determine the balance in the WIP TDC - exploratory wells account.

QUESTION 20

20. Determine the balance in the IDC development wells account.

QUESTION 21

21. Determine the balance in the accumulated amortization in IDC development wells account.

QUESTION 22

22. Determine the balance in the TDC development wells account.

QUESTION 23

23. Determine the balance in the accumulated amortization in TDC development wells account.