Question: 3 8 points eBook Exercise 6-18A (Algo) Computing and recording depletion expense LO 6-8 Colorado Mining paid $552,000 to acquire a mine with 46,000


3 8 points eBook Exercise 6-18A (Algo) Computing and recording depletion expense LO 6-8 Colorado Mining paid $552,000 to acquire a mine with 46,000 tons of coal reserves. The financial statements model shown on the last tab reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 24,150 tons of coal in year 1 and 20,700 tons in year 2. Required a. Compute the depletion charge per unit. b-1. Compute the depletion expense for years 1 and 2 in a financial statements. H b-2. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. Print Complete this question by entering your answers in the tabs below. References Req A Req 81 Req 82 Compute the depletion charge per unit. Depletion charge per unit per ton. Req 1
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