3. Assume that on January 1, 2018, the company received a new estimate that the mine now contained 215,000 tons of coal. Record the entry (if any) to show the change in estimate. 4. Record the depletion expense for 2018, assuming that another 40,000 tons of coal were mined.

3. Assume that on January 1, 2018, the company received a new estimate that the mine now contained 215,000 tons of coal. Record the entry (if any) to show the change in estimate. 4. Record the depletion expense for 2018, assuming that another 40,000 tons of coal were mined.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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