The 2014 annual report of Fracking,Inc. ,provides the following disclosures regarding its oil and gas operations:
During 2014,the company reported exploration expenses totaling $306 million,and depreciation,depletion,and amortization totaling $1,198 million.The amount of capitalized costs for the fiscal years ending December 31,2014,and 2013,were:
Fracking uses the successful-efforts method to account for exploration costs.
Required:

Question

The 2014 annual report of Fracking,Inc. ,provides the following disclosures regarding its oil and gas operations:
  During 2014,the company reported exploration expenses totaling $306 million,and depreciation,depletion,and amortization totaling $1,198 million.The amount of capitalized costs for the fiscal years ending December 31,2014,and 2013,were:
  Fracking uses the successful-efforts method to account for exploration costs.
Required:

Quizplus · Accepted Answer

The Answer of The 2014 annual report of Fracking,Inc. ,provides the following disclosures regarding its oil and gas operations:
  During 2014,the company reported exploration expenses totaling $306 million,and depreciation,depletion,and amortization totaling $1,198 million.The amount of capitalized costs for the fiscal years ending December 31,2014,and 2013,were:
  Fracking uses the successful-efforts method to account for exploration costs.
Required:

The 2014 Annual Report of Fracking,Inc