I don't understand how to do these:
1. Whittle, Inc., purchased the timber rights for $6,000,000 at
the beginning of Year 1. It is expected to produce a total of
8,000,000 cords of wood over 4 years, after which it will be sold
for $1,000,000. In Year 1, it cut 110,000 cords of wood. How much
Depletion Expense should be recorded in Year 1 using the activity
method?
2. On-A-Roll, Inc., bought machinery at a cost of $21,000 with a...