Business, 18.12.2019 04:31 loves2ballet

Barton corporation acquires a coal mine at a cost of $1,500,000. intangible development costs total $360,000. after extraction has occurred, barton must restore the property (estimated fair value of the obligation is $180,000), after which it can be sold for $510,000. barton estimates that 5,000 tons of coal can be extracted. if 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion? a. debit to accumulated depletion for $275,400 b. debit to inventory for $275,400 c. credit to inventory for $270,000 d. credit to accumulated depletion for $459,000

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Barton corporation acquires a coal mine at a cost of $1,500,000. intangible development costs total...

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