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On July 1,2022, Friedman Inc. invested $720,000 in a mine estimated to have 900,000 tons...

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Accounting

On July 1,2022, Friedman Inc. invested $720,000 in a mine estimated to have 900,000 tons of ore of uniform grade. During the last 6 months of 2022,100,000 tons of ore were mined.
(a1)
Your answer is correct.
Calculate depletion cost per unit. (Round answer to 2 decimal places, eg.0.50.)
Depletion cost per unit
$
eTextbook and Media
List of Accounts
Attempts: 1 of 5 used
(a2)
Prepare the journal entry to record depletion. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date Account Titles and Explanation
Debit
Credit
Dec. 31
image

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