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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Steel Rolling Corp. purchased a mine, which holds an estimated 38,000 tons of iron ore, on January 1, 2017, for $538,000. The mine is expected to have zero residual value. The business extracted and sold 15,500 tons of ore in 2017 and 8,800 tons of ore in 2018. What is the depletion expense for 2017? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $124,608
B) $318,600
C) $219,480
D) $86,608
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
5 years ago
thank you
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#4
4 years ago
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