Required information [The following information applies to the questions displayed below.] On...
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Required information The following information applies to the questions displayed below. On July of the current year, Dakota Mining Co pays $ for land estimated to contain tons of recoverable ore. It installs and pays for machinery costing $ on July The company removes and sells tons of ore during its first five months of operations ending on December 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. Do not round your intermediate calculations. Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar. 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 Required B Required C Required C Required D Required D Prepare the journal entry to record the purchase of the land. 
Required information
The following information applies to the questions displayed below.
On July of the current year, Dakota Mining Co pays $ for land estimated to contain tons of
recoverable ore. It installs and pays for machinery costing $ on July The company removes and sells
tons of ore during its first five months of operations ending on December 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. Do not round your intermediate calculations. Round "Depletion per ton" to two decimal
places and round all other answers to the nearest whole dollar.
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
Required B
Required C
Required C
Required D
Required D
Prepare the journal entry to record the purchase of the land.
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