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Rev. - Exp. Net Inc Cash Flow Assets + Coal Res....

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Accounting

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Rev. - Exp. Net Inc Cash Flow Assets + Coal Res. + NA Cash 800,000 + Equity Ret. Earn. NA Com. Stk. 800,000 NA - NA NA NA Required a. Compute the depletion charge per unit. b. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model like the preceding one c. Prepare the general journal entries to record the depletion expense for years 1 and 2 Rev. - Exp. Net Inc Cash Flow Assets + Coal Res. + NA Cash 800,000 + Equity Ret. Earn. NA Com. Stk. 800,000 NA - NA NA NA Required a. Compute the depletion charge per unit. b. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model like the preceding one c. Prepare the general journal entries to record the depletion expense for years 1 and 2

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