apter 11 Homeworkx C ezto.mheducation.com/hm.tpx ?connect ACCOUNTING apter 11 Ho

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apter 11 Homeworkx C ezto.mheducation.com/hm.tpx ?connect ACCOUNTING apter 11 Homework value 5.00 points On April 17, 2016, the Loadstone Mining Company purchased the rights to a coal mine. The purchase price plus additional costs necessary to prepare the mine for extraction of the coal totaled $2,790,000. The comany anpcts to entract 930 00 tons of coal during a four year period During 2016, 350,000 tons were extracted and sold immediately Required: 1. Calculate depletion for 2016. References eBook&Resources; Worksheet Difficulity: 2 Medium Check my. work

Explanation / Answer

Depletion for 2016 = 2790000/930000*350000= $1050000

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