Batch Company, a full cost company, has an unproved lease for which it paid $200,000. Give the

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Batch Company, a full cost company, has an unproved lease for which it paid

$200,000. Give the entry to record the sale of the property, assuming Batch Company sold the property for:

a. $150,000

b. $220,000 REQUIRED: Give the entry to record the sale, assuming Batch Company sold only 25% of the working interest in the property and received:

a. $140,000

b. $210,000

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Fundamentals Of Oil And Gas Accounting

ISBN: 9781593703639

6th Edition

Authors: Charlotte Wright

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Question Posted: Mar 08, 2024 10:00 AM

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Batch Company, a full cost company, has an unproved lease for which it paid $200,000. Give the

Question:

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Fundamentals Of Oil And Gas Accounting

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