A zinc mine contains an estimated 1,250,000 tons of zinc ore. The mine cost $14.4 million. The
Question:
1. What was the depletion for 20X1?
2. Suppose that in 20X2 a total of 120,000 tons were mined. What depletion expense would be charged for 20X2?
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1 Depletion rate 14400000 1250000 tons 1152 per ton Deplet...View the full answer
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Related Book For 
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
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