Post$-$Class Homework Ch$9$

Question $1$ of $8$

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On July $1,2024,$ Skysong Exploration invests $$1\mathrm{.}36$ million in a mine that is estimated to have $900,000$ tonnes of ore. The company estimates that the property will be sold for $$100,000$ when production at the mine has ended. During the last six months of $2024,100,000$ tonnes of ore are mined and sold. Skysong has a December $31$ fiscal year end.

$($b$)$

Record the $2024$ depletion. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry. Round depletable amount per tonne to $2$ decimal places, e$.$g$.5\mathrm{.}27$ and final answers to $0$ decimal places, e$.$g$.5,276.)$

Date Account Titles

Debit

Credit

Dec. $31$