What was the depletion for year 1 and year 2, Accounting Basics

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What was the depletion for year 1 and year 2

Fitzgerald Oil and Gas incurred costs of $8.25 million for the acquisition and development of a natural gas deposit. The company expects to extract 3 million cubic feet of natural gas during a four-year period. Natural gas extracted during years 1 and 2 were 700,000 and 800,000 cubic feet, respectively. What was the depletion for year 1 and year 2?

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Accounting Basics: What was the depletion for year 1 and year 2

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Accounting Basics: What was the depletion for year 1 and year 2

Reference No:- TGS0680521

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Using activity based pricing marks up the direct cost

Q : Calculate the amount of net cash from investing activities

Q : What is the price if a markup

Q : Identify a possible confounding variable

Q : What was the depletion for year 1 and year 2

Q : What mark-up percentage is the company using

Q : How much in additional taxes will each firm pay

Q : What would the price be if the company expected

Q : Average basic shares outstanding for company

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was the depletion for year 1 and year 2

Reference No:- TGS0680521

Recent Questions Asked Accounting Basics

Q : Using activity based pricing marks up the direct cost

Q : Calculate the amount of net cash from investing activities

Q : What is the price if a markup

Q : Identify a possible confounding variable

Q : What was the depletion for year 1 and year 2

Q : What mark-up percentage is the company using

Q : How much in additional taxes will each firm pay

Q : What would the price be if the company expected

Q : Average basic shares outstanding for company

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