# Hyde Inc. purchased mineral rights estimated at 2,500,000 tons near Great Falls, Montana, for $3,600,000 on August 7, 20Y4. During the remainder of the year, Hyde mined 175,000 tons of ore. What is the depletion expense for 20Y4? A.$121,528 B. $252,000 C.$1,500,000 D. $3,600,000 BuyFindarrow_forward ### Survey of Accounting (Accounting I) 8th Edition Carl Warren Publisher: Cengage Learning ISBN: 9781305961883 #### Solutions Chapter Section BuyFindarrow_forward ### Survey of Accounting (Accounting I) 8th Edition Carl Warren Publisher: Cengage Learning ISBN: 9781305961883 Chapter 7, Problem 4SEQ Textbook Problem 55 views ## Hyde Inc. purchased mineral rights estimated at 2,500,000 tons near Great Falls, Montana, for$3,600,000 on August 7, 20Y4. During the remainder of the year, Hyde mined 175,000 tons of ore. What is the depletion expense for 20Y4? A. $121,528 B.$252,000 C. $1,500,000 D.$3,600,000

To determine

Concept Introduction:

Units of Production method of depreciation:

This is one of the methods to calculate the depreciation on assets. Under this method the depreciable value of asset is allocated on the basis of unit of production during its estimated life. The formula to calculate the deprecation under units of production method is as follows:

Depreciation = (Cost- Salvage Value)×Units for the periodEstimated life in units

To Calculate:

The Depletion expense for the year 20Y4

### Explanation of Solution

The Depletion expense for the year 20Y4 is calculated as follows:

Dep...

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