Heath Mining Company acquired a mine in 2019. Capitalized costs of the minerals were $5,460,000. The company
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Heath Mining Company acquired a mine in 2019. Capitalized costs of the minerals were $5,460,000. The company mined 200,000 tons of ore in 2019 and on December 31, 2019, it is estimated that 2,200,000 tons of ore remained in the ground.
Compute the amount of depletion expense for 2019.
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Related Book For 
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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