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A Company Purchased Mining Property That Containing 15,000,000 Tons of Ore

Question 157

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A company purchased mining property that containing 15,000,000 tons of ore for $4,875,000.In 2012,the company mined and sold 789,000 tons of ore and in 2013,it mined and sold 1,235,000.Calculate the depletion expense for 2012 and 2013.

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$4,875,000/15,000,000 tons = $...

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