apter 11 Homeworkx C eztomheducationcomhmtpx connect ACCOUNT

apter 11 Homeworkx C ezto.mheducation.com/hm.tpx ?connect ACCOUNTING apter 11 Homework value 5.00 points On April 17, 2016, the Loadstone Mining Company purchased the rights to a coal mine. The purchase price plus additional costs necessary to prepare the mine for extraction of the coal totaled $2,790,000. The comany anpcts to entract 930 00 tons of coal during a four year period During 2016, 350,000 tons were extracted and sold immediately Required: 1. Calculate depletion for 2016. References eBook&Resources; Worksheet Difficulity: 2 Medium Check my. work

Solution

Depletion for 2016 = 2790000/930000*350000= $1050000