Texas Oil Company operates solely in the United States. The following amounts are paid during June 2018
Question:
Texas Oil Company operates solely in the United States. The following amounts are paid during June 2018 relating to producing leases:
REQUIRED: Record the above transactions.
Transcribed Image Text:
Fuel for Lease A..... Supplies for Lease A Labor cost for pumpers and gaugers-Lease A Fringe benefits of pumpers and gaugers who work on several leases Salaries and fringe benefits of regional supervisors... Contract labor for refracturing well of Lease A Property tax-Lease A....... Transportation cost for several leases $50,100 15,000 20,500 8,000 20,000 12,000 14,000 10,200
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