The following account balances for 2018 and 2019 relate to a proved property: DD&A for 2021 12/31/18 $ 30,000 6,000 350,000 60,000 250,000 12/31/19 $30,000 19. Proved property cost Accumulated DD&A-proved property Wells and equipment-IDC. Accumulated DD&A-L&WE-IDC . Wells and equipment-L&WE.. Accumulated DD&A-wells and equipment-L&WE.. 55,000 450,000 325,000 ..... 2018 Proved reserves, 12/31.. Proved developed reserves, 12/31 . Production during 2018 and 2019. 2019 800,000 Mcf 900,000 Mc 500,000 Mcf 700,000 Mci 40,000 Mcf 60,000 Mci REQUIRED: Compute DD&A for the year ended 12/31/19.

The following account balances for 2018 and 2019 relate to a proved property: DD&A for 2021 12/31/18 $ 30,000 6,000 350,000 60,000 250,000 12/31/19 $30,000 19. Proved property cost Accumulated DD&A-proved property Wells and equipment-IDC. Accumulated DD&A-L&WE-IDC . Wells and equipment-L&WE.. Accumulated DD&A-wells and equipment-L&WE.. 55,000 450,000 325,000 ..... 2018 Proved reserves, 12/31.. Proved developed reserves, 12/31 . Production during 2018 and 2019. 2019 800,000 Mcf 900,000 Mc 500,000 Mcf 700,000 Mci 40,000 Mcf 60,000 Mci REQUIRED: Compute DD&A for the year ended 12/31/19.

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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