The Shynee Copper Company recently acquired a parcel of land containing an estimated 6,000,000 tons of commercial grade copper ore. Shynee paid $5,500,000 for the land and spent $960,000 getting the mine ready for use. Shynee also purchased some equipment for $240,000. Although the equipment will be worthless when the ore is depleted, Shynee estimated that the land can be sold for $400,000 after the mining operations are completed. Prepare the entry to record the extraction of 100,000 tons and sale of 90,000 tons.
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!Use Discount Code “Newclient” for a 15% Discount!NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.