A coal mine was purchased a cost of P90,222,994,330B (1B is 1E9) and the estimated amount of coal that can be mined is 63,093,626M tonnes (1 tonne = 1000 kg). If the extraction rate per month is 420,411 tonnes. What is the depletion cost after the 8th year in pesos?

A coal mine was purchased a cost of P90,222,994,330B (1B is 1E9) and the estimated amount of coal that can be mined is 63,093,626M tonnes (1 tonne = 1000 kg). If the extraction rate per month is 420,411 tonnes. What is the depletion cost after the 8th year in pesos?

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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The answer is 57,713,452,224.9503 but I don't know how to get it. Please help! Thank you, our topic is depletion method.

A coal mine was purchased a cost of P90,222,994,330B (1B is 1E9) and the estimated amount
of coal that can be mined is 63,093,626M tonnes (1 tonne = 1000 kg). If the extraction rate
per month is 420,411 tonnes. What is the depletion cost after the 8th year in pesos?

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