Determine the amount of the total amortization cost base, assuming (1) no exclusions from the amortization base,
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Determine the amount of the total amortization cost base, assuming (1) no exclusions from the amortization base, and (2) all possible costs are excluded from the amortization base.
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Unproved property-cost $80,000, amount impaired $20,000 (if excluded) Unproved property-abandoned cost $30,000, no impairment Unproved property-found proved reserves cost $18,000, no impairment Unproved property purchased- cost $50,000 Wells-in-progress on unproved property-$100,000 Well completed on unproved property-dry-hole cost-$250,000 Total (1) Amount no exclusions ? (2) Amount- all exclusions ?
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