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Sioux Petroleum Co. Assignment | Top Universities

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February 17th, 2020

Sioux Petroleum Co., a successful efforts company, drilled a dry exploratory well at the cost of $150,000. Later, the company drilled another exploratory well on the same property at the cost of $200,000 and it was successful. Sioux Petroleum Co. should: expense $200,000. expense $350,000. expense $150,000. capitalize $350,000.

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