Homework Help is Here – Start Your Trial Now!
Engineering
Civil Engineering
X acquires a coalmine at a cost of $1,660,000. Intangible development costs total $540,000. The salvage value is $510,000. X estimates that 6,000 tons of coal can be extracted. If 900 ons are extracted the first year, which of the following would be included in the journal entry ?to record depletion Credit to Accumulated Depletion for $382,500 a O Debit to Accumulated Depletion for $229,500.b O Debit to Inventory for $229,500 .c O Debit to Inventory for $253,500

X acquires a coalmine at a cost of $1,660,000. Intangible development costs total $540,000. The salvage value is $510,000. X estimates that 6,000 tons of coal can be extracted. If 900 ons are extracted the first year, which of the following would be included in the journal entry ?to record depletion Credit to Accumulated Depletion for $382,500 a O Debit to Accumulated Depletion for $229,500.b O Debit to Inventory for $229,500 .c O Debit to Inventory for $253,500

Structural Analysis
Structural Analysis
6th Edition
ISBN:9781337630931
Author:KASSIMALI, Aslam.
Publisher:KASSIMALI, Aslam.
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
Related questions
Question

Give me right solution according to the question 

X acquires a coalmine at a cost of $1,660,000. Intangible development costs total $540,000. The salvage value is $510,000. X estimates that 6,000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry ?to record depletion Credit to Accumulated Depletion for $382,500 .a Debit to Accumulated Depletion for $229,500.b O Debit to Inventory for $229,500 .c O Debit to Inventory for $253,500 .d O
Transcribed Image Text:X acquires a coalmine at a cost of $1,660,000. Intangible development costs total $540,000. The salvage value is $510,000. X estimates that 6,000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry ?to record depletion Credit to Accumulated Depletion for $382,500 .a Debit to Accumulated Depletion for $229,500.b O Debit to Inventory for $229,500 .c O Debit to Inventory for $253,500 .d O
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Dimensional homogeneity
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, civil-engineering and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Structural Analysis
Structural Analysis
Civil Engineering
ISBN:
9781337630931
Author:
KASSIMALI, Aslam.
Publisher:
Cengage,
Structural Analysis (10th Edition)
Structural Analysis (10th Edition)
Civil Engineering
ISBN:
9780134610672
Author:
Russell C. Hibbeler
Publisher:
PEARSON
Principles of Foundation Engineering (MindTap Cou…
Principles of Foundation Engineering (MindTap Cou…
Civil Engineering
ISBN:
9781337705028
Author:
Braja M. Das, Nagaratnam Sivakugan
Publisher:
Cengage Learning
Fundamentals of Structural Analysis
Fundamentals of Structural Analysis
Civil Engineering
ISBN:
9780073398006
Author:
Kenneth M. Leet Emeritus, Chia-Ming Uang, Joel Lanning
Publisher:
McGraw-Hill Education
Sustainable Energy
Sustainable Energy
Civil Engineering
ISBN:
9781337551663
Author:
DUNLAP, Richard A.
Publisher:
Cengage,
Traffic and Highway Engineering
Traffic and Highway Engineering
Civil Engineering
ISBN:
9781305156241
Author:
Garber, Nicholas J.
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS