Concord Corporation acquires a coal mine at a cost of $1590000. Intangible development costs total $365000. After extraction has occurred, Concord must restore the property (estimated fair value of the obligation is $178000), after which it can be sold for $508000. Concord estimates that 6000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion? (Round intermediate calculations to 2 decimal places, e. g. 20.25 and final answer to nearest dollar amount, eg. 102456.) a. Credit to Accumulated Depletion for $396150
b. Credit to Inventory for $238500
c. Debit to Accumulated Depletion for $243747
d. Debit to Inventory for $243747

Depletion cost per ton = (1590000+365000+178000-508000)/6000

Depletion cost per ton = $270.83

Depletion cost = $270.83*900 tons

Depletion cost = 243,747

Account Titles                        Debit         Credit

Depletion Expenses            $243,747

     Accumulated depletion                     $243,747

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.