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Many had solved it and got it wrong. I need a professor in accounting to answer this. Answer accordingly. Please solve in table form just like the question for easy undertsnading.
(7i)
(9ii)
Colorado Mining paid $686,000 to acquire a mine with 49,000 tons of coal reserves. The following statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 25,725 tons of coal in year 1 and 22,050 tons in year 2. Required a. Compute the depletion charge per unit. b-1. Compute the depletion expense for years 1 and 2 in a financial statements b-2. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. The first event is recorded as an example. Complete this question by entering your answers in the tabs b Req A Req B1 Req B2 Compute the depletion charge per unit. Depletion charge per unit per ton
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