Business
Business, 15.04.2021 20:30, kalebrayburn62

Depletion Down Deep Mining Co. acquired mineral rights for $130,500,000. The mineral deposit is estimated at 90,000,000 tons. During the current year, 20,700,000 tons were mined and sold. a. Determine the depletion rate. If required, round your answer to two decimal places. $fill in the blank d4820b085069004_1 per ton b. Determine the amount of depletion expense for the current year. $fill in the blank d4820b085069004_2 c. Journalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not require an entry, leave it blank. Dec. 31 fill in the blank 2bed1df9cfea056_2 fill in the blank 2bed1df9cfea056_3 fill in the blank 2bed1df9cfea056_5 fill in the blank 2bed1df9cfea056_6

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Depletion Down Deep Mining Co. acquired mineral rights for $130,500,000. The mineral deposit is esti...

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