The term depletion expense seldom appears on income statements, even if the company is a timber…The term depletion expense seldom appears on income statements, even if the company is a timber…

The term depletion expense seldom appears on income statements, even if the company is a timber grower, mine owner, or owner of oil wells. If the cost of natural resources “harvested” never shows up on the income statement under depletion expense, how is this cost accounted for? Explain your answer.View Solution:
The term depletion expense seldom appears on income statements

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