Multiple Choice
A coal mine was acquired for $2,000,000. No salvage value was expected and the number of tons of coal is estimated to be 1,000,000 tons. During for first year, 100,000 tons of coal was mined and sold. The first year depletion expense is:
A) $1,000,000.
B) $100,000.
C) $2,000,000.
D) $200,000.
Correct Answer:
Verified
Correct Answer:
Verified
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