The following account balances for 2018 and 2019 relate to a proved property: REQUIRED: Compute DD&A for
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The following account balances for 2018 and 2019 relate to a proved property:
REQUIRED: Compute DD&A for the year ended 12/31/19.
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Proved property cost Accumulated DD&A-proved property. Wells and equipment-IDC.. Accumulated DD&A-L&WE-IDC Wells and equipment-L&WE..... 12/31/18 $ 30,000 6,000 350,000 60,000 250,000 Accumulated DD&A-wells and equipment -L&WE.. 55,000 Proved reserves, 12/31.. Proved developed reserves, 12/31..... Production during 2018 and 2019.. 12/31/19 $30,000 450,000 325,000 2018 2019 800,000 Mcf 900,000 Mcf 500,000 Mcf 700,000 Mcf 40,000 Mcf 60,000 Mcf
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