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Post-Class Homework Ch9 Question 1 of 8 -1,vdots-= ...

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Accounting

Post-Class Homework Ch9
Question 1 of 8
-1,vdots-=
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On July 1,2024, Skysong Exploration invests $1.36 million in a mine that is estimated to have 900,000 tonnes of ore. The company estimates that the property will be sold for $100,000 when production at the mine has ended. During the last six months of 2024,100,000 tonnes of ore are mined and sold. Skysong has a December 31 fiscal year end.
(b)
Record the 2024 depletion. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry. Round depletable amount per tonne to 2 decimal places, e.g.5.27 and final answers to 0 decimal places, e.g.5,276.)
Date Account Titles
Debit
Credit
Dec. 31
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