the following is the complete mineral exploration development and extraction history 4375605

The following is the complete mineral exploration, development, and extraction history of Nikko Minerals Inc. Early in 2009 investors invested $50 million to start the company. No further or other financing was required. The company started explorations in 2009. However, all exploration efforts between 2009 and 2011 were unsuccessful. It was not until early in 2012 that Nikko found its one and only viable mineral deposit, which it immediately began to develop. It took two years to complete development of the site and all the minerals were extracted in three years, starting in 2014. Required: a. Assume Nikko used the successfi.il efforts method to account for exploration costs. Complete the following table using the successful efforts method of accounting. b. Assume Nikko used the full cost method to account for exploration costs. Complete the following table using the full cost method of accounting. View Solution:
The following is the complete mineral exploration development and extraction

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