ces On July 23 of the current year Dakota Mining Company

Last updated: 9/19/2023

ces 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 is mined Required Prepare entries to record the following a The purchase of the land b The cost and installation of machinery 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 Complete this question by entering your answers in the tabs below Required A Required B Required C1 Required C2 Required D1 phase of the land Required D2 Check my work