Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 09 Jan 2018 My Price 4.00

tons of coal

 

A coal mine purchased 3 years ago for $7 million was estimated to contain 4,000,000 tons of coal. During the past 3 years the amount of coal removed was 21,000, 18,000, and 20,000 tons, respectively. The gross income obtained in these 3 years was $257,000 for the first year, $320,000 for the second year, and $340,000 for the third year.

Determine ( a ) the cost depletion allowance for each year and ( b ) the percentage of the purchase price depleted thus far.

 

 

 
 

Answers

Maurice Tutor
(5)
Status NEW Posted 09 Jan 2018 12:01 PM My Price 4.00

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