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(d) Geita Gold Mining has an estimated deposit of 400,000 ounces of gold has a basis of Tsh.32 million and the value of
Posted: Fri Jul 01, 2022 8:28 am
by answerhappygod
- D Geita Gold Mining Has An Estimated Deposit Of 400 000 Ounces Of Gold Has A Basis Of Tsh 32 Million And The Value Of 1 (15.35 KiB) Viewed 27 times
(d) Geita Gold Mining has an estimated deposit of 400,000 ounces of gold has a basis of Tsh.32 million and the value of land being Tsh 3.3 billion. The mine has a gross income of Tsh. 16, 425, 000.00 for the year from selling 45,000 ounces of gold (at a unit price of 365 per ounce). In Tanzania, the gold has 15% depletion allowance. Mining expenses before depletion equal to Tsh. 12, 250,000.00. Compute the cost depletion [5 Marks]