How to calculate the depletion expense, Accounting Basics

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How to calculate the depletion expense

A mine is purchased for $4,000,000. There will be a salvage value of $300,000 when the land is restored after mining is completed. The mine has an estimated 250,000 tons of coal. During 2012, there were 35,000 tons of coal removed. What is the depletion expense for 2012?

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Accounting Basics: How to calculate the depletion expense

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A mine is purchased for $4,000,000. There will be a salvage value of $300,000 when the land is restored after mining is completed. The mine has an estimated 250,000 tons of coal.

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Accounting Basics: How to calculate the depletion expense

Reference No:- TGS0715070

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Unique feature of process costing systems

Q : Electric utilities generally have very high common

Q : Magnitude and the direction of the net electric field

Q : The veggies can remain fresh and crisp until used

Q : How to calculate the depletion expense

Q : Maximum amount of electric charge

Q : How much depreciation will be recorded

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Q : Calculate heat loss from the rod

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How to calculate the depletion expense

Reference No:- TGS0715070

Recent Questions Asked Accounting Basics

Q : Unique feature of process costing systems

Q : Electric utilities generally have very high common

Q : Magnitude and the direction of the net electric field

Q : The veggies can remain fresh and crisp until used

Q : How to calculate the depletion expense

Q : Maximum amount of electric charge

Q : How much depreciation will be recorded

Q : The adjustment to record bad debts

Q : Calculate heat loss from the rod

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