C C Coal Company Purchased the Coal Rights in an Area

question 27

Essay

C C Coal Company purchased the coal rights in an area for $4,050,000.They estimated that the area contained 9,000,000 tons of coal.The first year of operations in the area yielded 110,000 tons of coal.What is the depletion cost per ton of coal? What is the depletion expense for this first year?

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