During the month of August, a mining company has a gross income of P3,200,000 from the production of nickel. All expenses, excluding depletion expenses for this month
During the month of August, a mining company has a gross income of P3,200,000 from the production of nickel. All expenses, excluding depletion expenses for this month
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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During the month of August, a mining company has a gross income of P3,200,000 from the production of nickel. All expenses, excluding depletion expenses for this month amount to P2,600,000. If the fixed depletion rate of nickel is 22%, what is the depletion allowance for this month?
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