Question: I need help figuring out Part B of this problem please View transaction list View journal entry worksheet General Journal No Date Debit Credit 1

I need help figuring out Part B of this problem please

I need help figuring out Part B of this problem please View

transaction list View journal entry worksheet General Journal No Date Debit Credit

1 1/1/Year 1 Silver mine 195,000 Cash 195,000 Timber 1,726,000 2 7/1/Year

1 154,000 Land Cash 1.880.000 12/31/Year 2 Depletion expense 3 577,252 16,877

View transaction list View journal entry worksheet General Journal No Date Debit Credit 1 1/1/Year 1 Silver mine 195,000 Cash 195,000 Timber 1,726,000 2 7/1/Year 1 154,000 Land Cash 1.880.000 12/31/Year 2 Depletion expense 3 577,252 16,877 Silver mine 12/31/Year 2 Depletion expense 4 577,252 Timber 560,375 Gold mine 5 2/1/Year 2 737,000 Cash 737.000 6 9/1/Year 2 Oil reserves 764,000 764.000 Cash Depletion expense 12/31/Year 2 7 15,500 15.500 Silver mine Depletion expense 12/31/Year 2 71,734 Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the portion of the December 31, Year 2, balance sheet that reports natural resources. (Round your answers to the nearest dollar amount.) Natural Resources Silver mine (less depletion) 107,016 Timber (less depletion) 1,259,870 Gold mine (less depletion) 622,143 Oil reserves (less depletion) 693,552 Total natural resources 2,682,581 Land $ 2,682,581 Total Required C Required A Required A Required B Required C Assume that in Year 3 the estimates changed to reflect only 50,320 tons of gold ore remaining. Prepare the depletion journal entry in Year 3 to account for the extraction of 35,224 tons of gold ore. (Round intermediate calculation to 2 decimal places and final answers to nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show lessA View transaction list View journal entry worksheet .. No Date General Journal Debit Credit Depreciation expense Year 3 622,143 1 Gold mine 622,143 Required B Required C >

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