2 of 2 On July 23 of the current year Dakota Mining Company pays 6 424 080 for land estimated to contain 9 048 000 tons of

Question

2 of 2 On July 23 of the current year Dakota Mining Company pays 6 424 080 for land estimated to contain 9 048 000 tons of recoverable ore It installs and pays for machinery costing 1 447 680 on July 25 The company removes and sells 464 500 tons of ore during its first five months of operations ending on December 31 Depreciation of the machinery is in proportion to the mine s depletion as the machinery will be abandoned after the ore mined Required Prepare entries to record the following a The purchase of the land b The cost and installation of machinery Work you have completed so far It does not indicate completion c The first five months depletion assuming the land has a net salvage value of zero after the ore is mined d The first five months depreciation on the machinery Required A Required B Required C1 Answer is not complete Complete this question by entering your answers in the tabs below Required C2 Required D1 Required D2 Record the first five months depreciation on the machinery Note Round your Depreciation per ton answer to 2 decimal places and round all other answers to the nearest whole dollar Select formula for Units of Production Depreciation Return to question

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