On July 23 of the current year, Dakota Mining Co. pays $7,147,920 for . . . A company purchased mining property for $4,875,000 containing an estimated 15,000,000 tons of ore In Year 1, it mined 689,000 tons of ore and in Year 2, it mined 935,000 tons Calculate the depletion expense for Year 1 and Year 2 and determine the book v; A factory machine was purchased for $123000 on January 1, 2017
On July 23 of the current year, Dakota Mining Co. pays $4,715,000 for . . . During the current year, 11,250,000 tons were mined and sold a Determine the amount of depletion expense for the current year b Illustrat; Big Sky Mining Co acquired mineral rights for $38,150,000 The mineral deposit is estimated at 21,800,000 tons During the current year, 2,090,000 tons were mined and sold
Ore | Definition, Types Examples - Lesson - Study. com Once ore is mined, it is then processed and the valuable materials it contains are refined for use The refining process usually involves one of two methods The first is known as smelting
Perez Company acquires an ore mine at a cost of $1,540,000. It incurs . . . During the month of August, 409,000 tons of Alpha were mined and processed at a cost of $747,000 As the Alpha ore is mined, it is processed into Delta and Pi, where 60% of the Alpha output becomes Delta ; ADP Mining Company mines an iron ore called Alpha During the month of August, 412,000 tons of Alpha were mined and processed at a cost of
Earths Treasures Mining Co. acquired mineral rights for $45,000,000 . . . LC mined the coal and sold it reporting gross receipts of $1 million, $3 million, and $2 million for years 1 through 3, respec On July 23 of the current year, Dakota Mining Co pays $6,300,000 for land estimated to contain 9,000,000 tons of recoverable ore
Last Chance Mine (LC) purchased a coal deposit for $750,000. It . . . After the ore deposit is removed, the land will be worth $75,000 If 100,000 tons of ore are mined and sold during the first year, what is; Seven Co owns a coal mine with an estimated 1,000,000 tons of available coal It was purchased for $300,000 and has $50,000 salvage value During the current period, Seven mined and sold 200,000 tons of coal
A company purchased mining property for $4,875,000 containing an . . . In the current year, the company mined and sold 90,000 tons of ore What is its depletion expense for the; A company purchased a mineral deposit for $740,000 It expects this property to produce 1,140,000 tons of ore and to have a salvage value of $44,000 In the current year, the company mined and sold 84,000 tons of ore
Glacier Mining Co. acquired mineral rights for $494,000,000. The . . . In the current year, the company mined and sold 86,000 tons of ore Its depletion expense for the current; A company purchased a mineral deposit for $800,000 It expects this property to produce 1,200,000 tons of ore and to have a salvage value of $50,000 In the current year, the company mined and sold 90,000 tons of ore
Seven Co. owns a coal mine with an estimated 1,000,000 tons of . . . A company purchased mining property for $4,875,000 containing an estimated 15,000,000 tons of ore In Year 1, it mined 689,000 tons of ore and in Year 2, it mined 935,000 tons Calculate the depletion expense for Year 1 and Year 2 and determine the book v; Stratford Company purchased a machine with an estimated useful life of seven years
Sands Company purchased mining rights for $500,000. They expect to . . . They expect to harvest 1 million tons of ore over the next five years During the current year, Sands mined 350,000 tons of ore The entry to record; Solare Company acquired mineral rights for $60,000,000 The diamond deposit is estimated at 6,000,000 tons During the current year, 2,300,000 tons were mined and sold a) Determine the depletion rat