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Thank you again!:) Problem 9-19A Intangible assets L02,3,6,7 CHECK FIGURES: 2....

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Accounting

Thank you again!:) image
Problem 9-19A Intangible assets L02,3,6,7 CHECK FIGURES: 2. Accum. Anort, Mineral Rights $57.200, Accum. Deprec., Equip. $224,400: $87,450 Accum. Deprec., Truck pper Explorations recently acquired the rights to mine a new site. Equipment and a truck Co d to begin mining operations at the site. Details of the mining assets follow: Date of Purchase Mar. 1/17 Mar. 1/17 Mar. 1/17 Est. Life 4 yrs 4 yrs 4 yrs Asset Cost Est. Residual Mineral rights Equipment Truck $62,400 244,800 95,400 Copper's year-end is December 31 and it uses the straight-line method for all mining assets in intangibles. Requlred 1. Record amortization and depreciation at December 31, 2017, on the mining assets, including mineral rights. 2. Assume the mine was closed on October 31, 2020, and the assets were scrapped. Record the posal of the assets

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