Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

very urgent Olive Xaafreen oir and Gas has been using full cost accounting for 25 years. The following data relate to Mars properties of 3

very urgent image text in transcribed
image text in transcribed
Olive Xaafreen oir and Gas has been using full cost accounting for 25 years. The following data relate to Mars properties of 3 Dec 2012 Capitalired cont plus future development cost $3.000.000 Accumulated DDRA 5700.000 Proved reservest Oil 250.000bbi Proved reserves: Gas 600,000M Production in 2020 Oil 20.000 bbl Sold at average price of 5115/bb! 70,000 Met Sold at average price of some Gas Current prices at 31 December 2020: Oil: 5120/obl Gas $8/MC Compute DD&A using the unit-of-revenue method. Capitalized cont plus future development cont $3.000.000 Accumulated DOLA 5700.000 Proved reserves: Oil 250.000 Proved reserves Gas 600,000M Production in 2020 Olt: 20.000 bbl Sold at average price of $115/bbl 70.000 Mc Sold at average price of 56/Mcf Current prices at 31 December 2020: oit $120/bbi Gas: SB/Md Compute DD&A using the unit-of-revenue method. $165.738 5166,837 $167.738 $167.837 $165.387 $166.738

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Advanced

Authors: Claudia Bienias Gilbertson

9th Edition

0538447559, 9780538447553

More Books

Students also viewed these Accounting questions