The Journal Entry Required to Recognise Depreciation on a Drilling $\quad$

question 7

Multiple Choice

The journal entry required to recognise depreciation on a drilling rig that is being used in the exploration phase of a mining project is:

• A) DR \(\quad\)Depreciation expense - drilling rig\(\quad\)\(\quad\)XX
• CR \(\quad\)Accumulated depreciation - drilling rig\(\quad\)XX
• B) DR \(\quad\)Intangible E&E asset\(\quad\)\(\quad\)\(\quad\)XX
• CR \(\quad\)Accumulated depreciation - drilling rig \(\quad\)XX
• C) DR \(\quad\)Depreciation expense-drilling rig \(\quad\)XX
• CR \(\quad\)Intangible E&E asset\(\quad\)\(\quad\)\(\quad\)XX
• D) DR \(\quad\)Intangible E&E asset\(\quad\)\(\quad\)\(\quad\)XX
• CR \(\quad\)Depreciation expense - drilling rig\(\quad\)XX

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Definitions:

Pronoun

A word used to substitute for a noun or noun phrase, often to avoid repetition and manage coherence; examples include "he," "she," "it," "they."

Trophy

A physical representation, often an ornamental cup or statue, awarded as a prize for achievement in a competition or event.

Pronoun

A grammatical term referring to words that substitute for nouns or noun phrases, facilitating brevity and variety in speech and writing.

Groundlings

In Elizabethan theatre, spectators who stood in the yard of the Globe Theatre, paying the least to see the performance.