NEED HELP ASAP 23 and 24 Question 23 Depletion expense is computed by multiplyin
ID: 2463599 • Letter: N
Question
NEED HELP ASAP 23 and 24
Question 23
Depletion expense is computed by multiplying the depletion cost per unit by the
number of units extracted
total actual units
total estimated units
number of units sold
24)
Question 24
Henson Company incurred $600,000 of research and development costs in its laboratory to develop a new product. It spent $80,000 in legal fees for a patent granted on January 2 of the current year. On July 31, Henson paid $60,000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31?
$740,000
$600,000
Some other amount
$140,000
number of units extracted
total actual units
total estimated units
number of units sold
24)
Question 24
Henson Company incurred $600,000 of research and development costs in its laboratory to develop a new product. It spent $80,000 in legal fees for a patent granted on January 2 of the current year. On July 31, Henson paid $60,000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31?
$740,000
$600,000
Some other amount
$140,000
Explanation / Answer
23) number of units extracted
24)
Depletion Expense = Cost Salvage Value × Number of Units Extracted Estimated Number of UnitsRelated Questions
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