ACC 557 Week 6 Chapter 10( E10-9, E10-12, E10-15, P10- 1A)
E9-11: On July 1, 2014, Sutton Inc. invested $ 720,000 in a mine estimated to have 800,000 tons of ore of uniform grade. During the last 6 months of 2014, 120,000 tons of ore were mined and sold.............
a) Calculate depletion cost per unit. b) Prepare the journal entry to record depletion expense.
c) Assume that the 120,000 tons of ore were mined, but only 90,000 units were sold. How are the costs applicable to the 30,000 unsold units reported?
E9-12: The following are selected 2014 transactions of Yosuke Corporation.
Prepare necessary adjusting entries at December 31 to record amortization required by the events above.............
P9-3A: On January 1, 2014, Thao Company purchased the following two machines for use in its production process............
a) Prepare the following for Machine A.............
b) Calculate the amount of depreciation expense that Thao should record for Machine B each year of its useful life under the following assumptions.............
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ACC 557 Week 6 Chapter 10( E10-9, E10-12, E10-15, P10- 1A)
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