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Wednesday, March 11, 2009

Wednesday, March 11, 2009. TODAY : Objective # 5 Short Exercises Excel Exercises Problem. Grades updated/uploaded. Objective 5. Account for natural resources. Natural Resources. Plant assets extracted from the natural environment

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Wednesday, March 11, 2009

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  1. Wednesday, March 11, 2009 • TODAY: • Objective #5 • Short Exercises • Excel Exercises • Problem Grades updated/uploaded

  2. Objective 5 Account for natural resources

  3. Natural Resources • Plant assets extracted from the natural environment • Expensed through depletion using the units of production method • Reported on balance sheet at cost less accumulated depletion

  4. Cost – Residual Value Estimated total units of natural resource Number of units extracted this period Depletion rate per unit × Depletion • Compute depletion rate per unit: • Compute depletion expense:

  5. Practice • S10-11 • E10-25 • P10-39B

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