What is the depletion rate per ton, Accounting Basics

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What is the depletion rate per ton

In 2007, Bauxite Mining Company purchased a bauxite mine for$9,000,000. At the time of purchase, Bauxite estimated that themine contained 500,000 tons of bauxite. Bauxite mined and sold40,000 tons in 2007 and 85,000 tons in 2008.

a.What is the depletion rate per ton?

b.What amount of depletion should be reported 2007 and 2008?

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Accounting Basics: What is the depletion rate per ton

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Accounting Basics: What is the depletion rate per ton

Reference No:- TGS0718608

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Recent Questions Asked Accounting Basics

Q : Discuss the internal rate of return for project nuts

Q : How fast will you be when the police car catches up

Q : How much is the direct labor price standard

Q : Determine final temperature in degrees and pressure in psi

Q : What is the depletion rate per ton

Q : What is the value of the equity using the free cash flow

Q : Determine instantaneous velocity and acceleration of point

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the depletion rate per ton

Reference No:- TGS0718608

Recent Questions Asked Accounting Basics

Q : Discuss the internal rate of return for project nuts

Q : How fast will you be when the police car catches up

Q : How much is the direct labor price standard

Q : Determine final temperature in degrees and pressure in psi

Q : What is the depletion rate per ton

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Q : Determine instantaneous velocity and acceleration of point

Q : How to compute the expected balance in accounts receivabl

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