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Cerrena [4.2K]
3 years ago
6

The accumulated depletion account is a.an expense account b.reported on the income statement as other expense c.reported on the

balance sheet as a deduction from the cost of the mineral deposit d.an intangible asset account
Business
1 answer:
bonufazy [111]3 years ago
4 0

Answer:

The answer is c.reported on the balance sheet as a deduction from the cost of the mineral deposit.

Explanation:

Accumulated Depletion Account is the account showing the accumulated depletion expenses relating to the use/exploitation of natural resources since the beginning.

Just like Accumulated Depreciation Account, The Accumulated Depletion Account is a contra-asset account which is reported on the Balance Sheet under the Natural Resources Account; the net effect of the two account shows the net book value of Natural Resources Account.

Thus, c. reported on the balance sheet as a deduction from the cost of the mineral deposit. is the correct choice.

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Answer:

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lys-0071 [83]
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7 0
3 years ago
A monopolist sells 2,000 units for $20 each. The total cost of 2,000 units is $30,000. If the price falls to $19, the number of
leonid [27]

Answer:

Decrease by $1

Explanation:

Given:

Old data:

Q0 = 2,000 units

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8 0
3 years ago
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