Reference no: EM133185171
Question - Mark Company quarries limestone, crushes it and sells it to be used in road building. Mark paid P10,000,000 for a certain quarry. The property can be sold for P3,000,000 after production ceases.
Estimated total reserves 10,000,000
Tons quarried through December 31, 2020 4,000,000
Tons quarried in 2021 1,500,000
An engineering study performed in 2021 indicated that on January 1, 2021, 7,500,000 tons of limestone were available. What is the depletion for 2021?
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Prepare the bank reconciliation statement at of april
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Calculate the net income
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What is the depletion
: An engineering study performed in 2021 indicated that on January 1, 2021, 7,500,000 tons of limestone were available. What is the depletion for 2021
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