21. Decade Petroleum incurred and paid the following costs during 2016: Lease A Lease B Lease...

 

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21. Decade Petroleum incurred and paid the following costs during 2016: Lease A Lease B Lease C Lease D Unproved Unproved Proved Proved Acquisition costs $ 30,000 $ 35,000 Purchased in Purchased in 2015 2015 Well: Exploratory Exploratory 180,000 Development $160,000 Development $190,000 Drilling contractor's 200,000 charges-day-rate 30000 35,000 28,000 22,000 Casing Production 75,000 80,000 equipment 10,000 15,000 12,000 14,000 Well logs Drilling results Well dry: Found Well dry Found abandon proved proved lease reserves reserves Record Decade Petroleum's transactions. 21. Decade Petroleum incurred and paid the following costs during 2016: Lease A Lease B Lease C Lease D Unproved Unproved Proved Proved Acquisition costs $ 30,000 $ 35,000 Purchased in Purchased in 2015 2015 Well: Exploratory Exploratory 180,000 Development $160,000 Development $190,000 Drilling contractor's 200,000 charges-day-rate 30000 35,000 28,000 22,000 Casing Production 75,000 80,000 equipment 10,000 15,000 12,000 14,000 Well logs Drilling results Well dry: Found Well dry Found abandon proved proved lease reserves reserves Record Decade Petroleum's transactions.

Answer rating: 100% (QA)

Decade Petroleums transactions would be recorded as follows Lease A Unproved 30000 Exploratory 1800... View the full answer