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Business, 24.03.2020 23:12 lucifer6669
On January 1, 2019, Plenty of Oil, Inc. purchased an oil field that is estimated to have 20 comma 000 comma 000 barrels of oil for $ 80 comma 000 comma 000. In 2019, 1 comma 800 comma 000 barrels of oil were extracted and sold. In 2020, 1 comma 900 comma 000 barrels of oil were extracted and sold. The oil field will have no residual value. What is the book value of the oil reserves that will be reported on the balance sheet as of December 31, 2020?
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On January 1, 2019, Plenty of Oil, Inc. purchased an oil field that is estimated to have 20 comma 00...
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