Question: A North Dakota Industries acquired a mining facility at a cost of $17.000.000 at the beginning of 2024. The facility have life of 8 years,
A North Dakota Industries acquired a mining facility at a cost of $17.000.000 at the beginning of 2024. The facility have life of 8 years, is expected to have no residual value and will be deprecated on the straight line basis. Under environmental regulations North Dakota Industries is required to dismantle and remove the facility at the end of the future and bearn cleanup costs, which are inevitabile in such operations. The cost to comply with the law is estimated to be $2.700,000. The appropriate discount rate is 0.9%. Round all amounts to the nearest dollar What is the amount of accumulated depreciation on the mining facility as of December 31, 2025 425000 Question 2 3 pts Continuing to use the North Dakota Industries Information on the 2025 Income statement what will be the amount reported for accretion expense? 3 pts Question 3 Continuing to use the North Dakota Industries Information. If the mining facility is disposed of at the end of the expected life and $1.810.000 is the realice costs of clean-up, what will be reported as Gain (Loss) on Settlement of Asset Retirement Obligation? (Enter the amount of gain as a positive number or loss as a negative number)
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