Multiple Choice
A coal mine cost $1,007,000 and is estimated to hold 56,000 tonnes of coal.There is no residual value.16,000 tonnes are extracted and sold during the first year of operations.Calculate depletion expense for the first year.
A) $100,700
B) $151,050
C) $287,714.29
D) $201,400
Correct Answer:
Verified
Correct Answer:
Verified
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