Subtracting accumulated depletion from the asset account coal mine would yield the:
A)current market value of the coal mine.
B)original cost of the coal mine.
C)net book value of the coal mine.
D)current period's depletion expense for the coal mine.

Question

Quizplus · Accepted Answer

Subtracting accumulated depletion from the asset account coal mine would yield the net book value of the coal mine. Net book value is the original cost of an asset minus accumulated depreciation or depletion. Therefore, it represents the value of the asset that has not yet been charged to expense.

Subtracting Accumulated Depletion from the Asset Account Coal Mine Would