Chapter 18 Problem 18-12 to 15
Problem 18-12 Answer B
Acquisition cost 26,400,000
Development cost 3,600,000
Estimated restoration cost 1,800,000
Total cost 31,800,000
Less: Residual value 3,000,000
Depletable cost 28,800,000
Rate per unit (28,800,000 / 1,200,000) 24
Depletion for 2008 (60,000 x 24) 1,440,000
Problem 18-13 Answer C
Depletion rate per unit (9,200,000 / 4,000,000) 2.30
Problem 18-14 Answer C
Rate per unit (46,800,000 – 3,600,000 / 2,160,000) 20
Depletion in cost of goods sold (240,000 x 20) 4,800,000
Problem 18-15 Answer D
Acquisition cost 10,000,000
Less: Residual value 3,000,000
Depletable cost 7,000,000
Less: Accumulated depletion – 12/31/2007
(7,000,000 / 10,000,000 = .70 x 4,000,000) 2,800,000
Remaining depletable cost – 1/1/2008 4,200,000
New depletion rate (4,200,000 / 7,500,000) .56
Depletion for 2008 (1,500,000 x .56) 840,000
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