Question: Answer quick! I need help with the second question that has the dotted line box around. I tried depletion expense because thats what I thought
Answer quick! I need help with the second question that has the dotted line box around. I tried depletion expense because thats what I thought it was but it was wrong.

Exercise 9-11 On July 1, 2019, Friedman Inc. invested $720,000 in a mine estimated to have 900,000 tons of ore of uniform grade. During the last 6 months of 2019, 100,000 tons of ore were mined. Your answer is correct. Calculate depletion cost per unit. (Round answer to 2 decimal places, e.g. 0.50.) Depletion cost per unit 0.80 $ lrsuow LIST OF Accoun'rsl 'VSHOW sownourl lrsnow ANSWERV' lVLINK'ro TEXTVl lVIDEO: snuunmasEl lvmso: 51:quth Your answer is partially correct. Try again. Prepare the journal entry to record depletion. ( Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Ties and Explanation Debit Credit Depletion Expense Depletion Expense Dec. 31
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
