In January 2020, Company A leased a mineral mine for $3,550.000 with removable estimated geological at 2,500,00 tons Company A incurred $1,150,000 of intangible development costs preparing the property for the extraction of ore. The present value of the cost of the mine estimated to be $250,000. During 2020. 340,000 tons were removed 300.000 tons were sold inventory/depletion balance on December 31, 2020 after the all the sales for the year are recorded will be: $91,120 $86,200 $79,200 $87,80
In January 2020, Company A leased a mineral mine for $3,550.000 with removable estimated geological at 2,500,00 tons Company A incurred $1,150,000 of intangible development costs preparing the property for the extraction of ore. The present value of the cost of the mine estimated to be $250,000. During 2020. 340,000 tons were removed 300.000 tons were sold inventory/depletion balance on December 31, 2020 after the all the sales for the year are recorded will be: $91,120 $86,200 $79,200 $87,80
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In January 2020, Company A leased a mineral mine for $3,550.000 with removable estimated geological at 2,500,00 tons Company A incurred $1,150,000 of intangible development costs preparing the property for the extraction of ore. The present value of the cost of the mine estimated to be $250,000. During 2020. 340,000 tons were removed 300.000 tons were sold inventory/depletion balance on December 31, 2020 after the all the sales for the year are recorded will be:
$91,120
$86,200
$79,200
$87,800
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