Required information [The following information applies to the questions displayed below.) On July 23 of the current year, Dakota Mining Co. pays $7.075.200 for land estimated to contaln 8,040,000 tons of recoverable ore. It Installs and pays for machinery costing $804,000 on July 25. The company removes and sells 412,750 tons of ore during Its first five months of operations ending on December 31. Depreclation of the machinery Is In proportion to the mine's depletlon as the machinery wll be abandoned after the ore is mined. (e) If the machine will be used at another site when extraction is complete, how would we depreciate this machine? Depreciated

Required information [The following information applies to the questions displayed below.) On July 23 of the current year, Dakota Mining Co. pays $7.075.200 for land estimated to contaln 8,040,000 tons of recoverable ore. It Installs and pays for machinery costing $804,000 on July 25. The company removes and sells 412,750 tons of ore during Its first five months of operations ending on December 31. Depreclation of the machinery Is In proportion to the mine's depletlon as the machinery wll be abandoned after the ore is mined. (e) If the machine will be used at another site when extraction is complete, how would we depreciate this machine? Depreciated

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 56P

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