Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. national mining corp. purchased a mine, which hold

National Mining Corp. purchased a mine, which holds an estimated 32,000 tons of iron ore,...

70.2K

Verified Solution

Question

Accounting

National Mining Corp. purchased a mine, which holds an estimated 32,000 tons of iron ore, on January 1, 2018, for $504,000. The mine is expected to have zero residual value. The business extracted and sold 12,500 tons of ore in 2018 and 20,800 tons of ore in 2019. What is the depletion expense for 2018? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

A 295,600

B 196,875

C 307,125

D 327,600

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A random variable is normally distributed with a mean of 24 and a standard deviation of...

Basic Math
Q

Question 1 (a) Elaborate on the FOUR (4) main functions of money. [16 marks] (b) Elaborate on the...

Economics
Q

What are embryonic stem cells

Biology
Q

A rope remains wrapped over the circumference of a wheel of radius r and of...

Physics
Q

1 point 4 Calculate the cross product assuming that u xw 3 4 w 0...

Basic Math
Q

Match the appropriate word from the Word Bank to the correct scenario Foreign Aid Work...

Basic Math
Q

13 11 c Which of the following is the correct picture of the probability distribution...

Statistics
Q

2 Many baseball pitchers can throw 3 different types of pitches fastball curve and change...

Statistics
Q

As sales manager, David Davis was given the following static budget report for selling expenses...

Accounting
Q

CPA Dreams provides daycare for children Mondays through Fridays. They charge parents $300 per month....

Accounting
Q

En qu categora de inversin los valores razonables y el crecimiento posterior de una participada...

Accounting
Q

Curly's Life Insurance Co. is trying to sell you an investment policy that will pay...

Finance