Mr cruz, procured a tract of timber for P65000. The worth of the land was established to be P17000 and the worth of the 23,500 trees was P45000. During the first year of operation, they cut down 4500 trees. What was the depletion allowance that year?
Mr cruz, procured a tract of timber for P65000. The worth of the land was established to be P17000 and the worth of the 23,500 trees was P45000. During the first year of operation, they cut down 4500 trees. What was the depletion allowance that year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mr cruz, procured a tract of timber for P65000. The worth of the land was established to be P17000 and the worth of the 23,500 trees was P45000. During the first year of operation, they cut down 4500 trees. What was the depletion allowance that year?
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