Essay
In 2016,West Virginia Mining Co.purchased a coal mine that contained an estimated 1,200,000 tons of coal,of which 1,000,000 tons can be profitably extracted,for a cash price of $58,500,000.The company mined 50,000 tons of coal in 2016.
Required: a)What is the amount of depletion to be recorded per ton of coal?
b)What is the amount of depletion expense for 2016?
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a)$58,500,000 / 1,00...View Answer
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