200k views
0 votes
What is Lucky Strike's depletion expense for year 2 if the applicable percentage depletion for silver is 15 percent?

A. $200,000
B. $375,000
C. $400,000
D. $450,000
E. None of these

1 Answer

3 votes

Final answer:

The depletion expense for Lucky Strike in year 2 depends on the total cost of units sold.

Step-by-step explanation:

The depletion expense for Lucky Strike in year 2 can be calculated by multiplying the applicable percentage depletion (15%) by the total cost of the units sold. Unfortunately, the question does not provide information about the total cost of the units sold, making it impossible to provide an exact answer.

However, if we assume that the total cost of units sold is $2,666,666 (which is a hypothetical number for demonstrative purposes), then the depletion expense for year 2 would be:

15% x $2,666,666 = $400,000

Therefore, the correct option would be C. $400,000.

User EcSync
by
7.8k points