Everly corporation acquires a coal mine at a cost of $479,200. intangible development costs total $119,800. after extraction has occurred, everly must restore the property (estimated fair value of the obligation is $95,840), after which it can be sold for $191,680. everly estimates that 4,792 tons of coal can be extracted. if 839 tons are extracted the first year, prepare the journal entry to record depletion.
required:

a. restoration costs inventory accumulated depletion development costs.
b. restoration costs development costs accumulated depletion inventory

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )