The Weber Company purchased a mining site for $510,498 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 82,226 tons will be recovered. During the first year the company extracted 6,000 tons of ore. The depletion expense is a.$46,488.30 b.$45,615.00 c.$37,260.00 d.$33,922.34
The Weber Company purchased a mining site for $510,498 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 82,226 tons will be recovered. During the first year the company extracted 6,000 tons of ore. The depletion expense is a.$46,488.30 b.$45,615.00 c.$37,260.00 d.$33,922.34
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 4SEQ
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The Weber Company purchased a mining site for $510,498 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 82,226 tons will be recovered. During the first year the company extracted 6,000 tons of ore. The depletion expense is
a.$46,488.30
b.$45,615.00
c.$37,260.00
d.$33,922.34
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