Galali mining company on April 30, paid BD 1,400,000 for a an ore with a capacity 1,400,000 tonnes mineral deposites. The extracted 25,000 tonnes in first year, 45,000 tonees in second year and 70,000 tonnes in third year.   --Compute depletion expense for the Second year assuming.

Subject:

A coal mine cost $1,002,000. It is estimated to hold 56,000 tons of coal. There is no residual value during the first year of operations 8000 tons are extracted and soul calculate depletion expense for the first year. A) $200,400 B) $143,120 C) $150,300 D) $100,200 

Montana Mining Company pays $4,360,440 for an ore deposit containing 1,552,000 tons. The company installs machinery in the mine costing $245,300. Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells 177,800 tons of ore during the year. Prepare the December 31 year-end entries to record both the ore machinery depreciation should be in proportion to the mine's depletion depletion and the mining machinery depreciation. Mining Note: Do not round intermediate calculations. Round your final answers to the nearest whole number. View transaction list Journal entry worksheet 2 Record the year-end adjusting entry for the depletion expense of ore mine. Note: Enter debits before credits. Date December 31 Record entry General Journal Clear entry Debit Credit View general journal Journal entry worksheet < 1 12 Record the year-end adjusting entry for the depreciation expense of the mining machinery. Note: Enter debits before credits. Date…