Bering rock acquires a granite quarry at a cost of $590,000, which is estimated to contain 200,000 tons of granite and is expect

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3 years ago

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Bering rock acquires a granite quarry at a cost of $590,000, which is estimated to contain 200,000 tons of granite and is expect

ed to take 6 years to remove. what journal entry would be needed to record the expense for the first year assuming 38,000 tons were removed and sold?

Business

1 answer:

eimsori [14] · Answer 1 · 2022-01-04T18:13:15+03:00

<span>The expense would be $112,100. After putting 38,000 over 200,000 tons (38000/20000), dividing this would provide you with the percentage of rock removed. Which is 0.19, after which you would multiply this by 590,000 which would you bring you to the expense for removal.</span>