In 2014,Mansfield Mining Purchased a Mineral Deposit for $12,000,000

question 35

Essay

In 2014,Mansfield Mining purchased a mineral deposit for $12,000,000.It is estimated that 15,000,000 tons can be extracted from the mine.Calculate depletion expense during 2014 assuming 800,000 tons were extracted and 700,000 tons were sold.

---

Definitions:

Fibrocartilage

A tough, very dense type of cartilage that contains fibrous bundles of collagen, such as that found in the intervertebral discs and at the insertions of some tendons and ligaments.

Hyaline Cartilage

A type of connective tissue found in areas such as the nose, trachea, and at the ends of long bones, providing support with some flexibility.

Pivot Joint

A type of synovial joint allowing rotational movement, such as the joint between the first and second cervical vertebrae.

Rotation

The action or process of rotating on or as if on an axis or center, commonly used to describe movement in anatomy or mechanical systems.