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  • The Total Amount of Depletion That Malinta Should Record For 2020 Is How Much?

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    Lilian Lagrimas
    12 просмотров1 страница
    Malinta Mines purchased a coal mine for P6,000,000 in March 2020. The mine contained an estimated 1,500,000 tons of removable coal. Malinta incurred P1,500,000 in development costs and removed 450,000 tons of coal in 2020, selling 300,000 tons.

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    Malinta Mines purchased a coal mine for P6,000,000 in March 2020. The mine contained an estimated 1,500,000 tons of removable coal. Malinta incurred P1,500,000 in development costs and removed 450,000 tons of coal in 2020, selling 300,000 tons.

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    12 просмотров1 страница

    The Total Amount of Depletion That Malinta Should Record For 2020 Is How Much?

    Загружено:

    Lilian Lagrimas
    Malinta Mines purchased a coal mine for P6,000,000 in March 2020. The mine contained an estimated 1,500,000 tons of removable coal. Malinta incurred P1,500,000 in development costs and removed 450,000 tons of coal in 2020, selling 300,000 tons.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 1

    In March, 2020, Malinta Mines Co. purchased a coal mine for P6,000,000.

    Removable coal is estimated at 1,500,000


    tons. Malinta is required to restore the land at an estimated cost of P720,000, and the land should have a value of
    P630,000. The company incurred P1,500,000 of development costs preparing the mine for production. During 2020,
    450,000 tons were removed and 300,000 tons were sold. 
    The total amount of depletion that Malinta should record for 2020 is how much?

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