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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
O'Reilly Corp. purchased a mine on January 1, 2016, for $516,000. The mine is estimated to contain 40,000 tons of iron ore. There is no residual value. The business extracted and sold 6,500 tons of ore in 2016 and 11,800 tons of ore in 2017. What is the book value of the mine at the end of 2017? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $436,000
B) $361,200
C) $516,000
D) $279,930
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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.unplugged..unplugged.
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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#3
4 years ago
Thank you
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