Author Question: Interior Resources purchased land for 14,092,000, which their experts believe to contain 27.1 ... (Read 114 times)

KWilfred · **on:** Jun 24, 2018

Interior Resources purchased land for 14,092,000, which their experts believe to contain 27.1 million tons of tar sands. It costs 3,143,000 to develop the property, whose residual value is estimated at 986,000. Determine the current year depletion expense if annual production amounted to 5,149,000 tons. (Round depletion cost per unit to the nearest cent)
A) 2,471,520
B) 3,089,400
C) 2,831,950
D) 3,398,340

Question 2

Calculate the trade discount amount of merchandise with a list price of 7,000 less trade discounts of 40/25/15.