Question: Copper Explorations recently acquired the rights to mine a new site. Equipment and a truck were purchased to begin mining operations at the site. Detoils


Copper Explorations recently acquired the rights to mine a new site. Equipment and a truck were purchased to begin mining operations at the site. Detoils of the mining assets follow: Copper's year-end is December 31 and it uses the straight-line method for oll mining assets including intangbies. Required: 1. Record amortization and depreciation at December 31, 2023, on the mining assets, incluc ing the mineral fighti. Journal entry worksheet Record the amortization on the mineral rights. 2. Assume the mine was elosed on October 31,2026 . and the assets were scrapped, Record the diposai of the attets Journal entry worksheet 3 Record the disposal of the mineral rights. Noce- Enter debits before credars Copper Explorations recently acquired the rights to mine a new site. Equipment and a truck were purchased to begin mining operations at the site. Details of the mining assets follow: Copper's year-end is Decemb 31 and it uses the straight-line method for all mining assets including intangibles. Required: 1. Record amortization and depreciation at December 31, 2023, on the mining assets, including the mineral rights. 2. Assume the mine was closed on October 31, 2026, and the assets were scrapped. Record the disposal of the assets. Journal entry woriksheet Record the disposal of the mineral rights. Notel Enter depites beferet credits
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