Rainbow mining co acquired mineral rights for30000000 the

Assignment Help Accounting Basics

Reference no: EM13614753

Rainbow Mining Co. acquired mineral rights for$30,000,000. The mineral deposit is estimated at 75,000,000tons. During the current year, 11,250,000 tons were mined and sold.

1.Determine the amount of depletion expense for the currentyear.

2.Illustrate the effects on the accounts and financial statementsof the depletion expense.

Reference no: EM13614753

Questions Cloud

Sheffield company had the followinginformation taken from : a rockwell company reported the following amounts on its2009 income statement purchases 100000 beginning 2009inventory

Describe how you would connect a voltmeter to measure the : 1 to work on your car at night you use an extension cord to connect your work light to a power outlet near the door.

The cash records and the bank statement of frankel company : a. linetech companys bank statement showed an endingbalance of 8000. items appearing in the bank reconciliationincluded

Three charged particles with q1 -50 nanocoulomb q2 50 : three charged particles with q1 -50 nanocoulomb q2 50 nanocoulomb q3 30 nanocoulomb are placed in a triangle. q1 and q2

Rainbow mining co acquired mineral rights for30000000 the : rainbow mining co. acquired mineral rights for30000000. the mineral deposit is estimated at 75000000tons. during the

The values of the charges are q1 2 microcoulomb q2 -1 : four charges are evenly spaced along the x axis with a separation distance d3cm. the values of the charges are q1 2

Determine the appropriate division of the stakes in a : determine the appropriate division of the stakes in a series between two players if the first player is lacking three

Assuming that the equipment was sold on january 2 2008 : equipment acquired on january 3 2005 at a cost of 147500has an estimated useful life of eight years and an

A 0525 kg ball starts from rest and rolls down a hill with : a 0.525 kg ball starts from rest and rolls down a hill with uniform acceleration traveling 200m during the second 10.0

Reviews

Write a Review

Required(*) Message

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages