Answer:
Coal Train Mines
Journal Entries:
A) Record the purchase of the mineral rights.
Date            Accounts               Debit          Credit
          Mineral Rights             $435,000
          Cash Account                                   $435,000
To record the purchase of the mineral rights.
B) Record the payment of fees and other costs.
Journal
Date Accounts                        Debit             Credit
         Fees and other costs    $71,250
         Cash Account                                      $71,250
To record $115 filing fee, $2,000 license fee, and $69,135 for geological survey.
C) Record the depletion for first-year production.
Journal
Date       Accounts                   Debit         Credit
Dec 31    Depletion Expense  $101,250
                Accumulated Depletion             $101,250
To record the depletion charge for the year.
D) Record the sales of ore.
Journal
Date    Accounts             Debit        Credit
            Cash                    $
            Sales Revenue                     $
To record the sale of 45,000 tons of ore
Explanation:
a) Depletion is an accrual accounting technique.  It allocates the cost of extracting natural resources such as timber, minerals, and oil from the earth by using the percentage of extracted resources over the total resources.  Depletion is a non-cash expense, like depreciation and amortization, that lowers the cost value of an asset incrementally through scheduled charges to the income statement.  While depletion is for natural resources, depreciation is for property, plant, and equipment, while amortization is used for intangible assets.
b) The total cost to be capitalized = $506,250 ($435,000 + $71,250)
c) Depletion charge for the first year = $101,250 (45,000/225,000 * $506,250).  Depletion per unit is $2.25
d) The selling price was not indicated, so no sales value was calculated.
e) Ending Inventory = $6,750 (48,000 - 45,000 * $2.25)