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Anuta_ua [19.1K]
3 years ago
11

Last year, Mountain Top, Inc., purchased a coal mine at a cost of $900,000. The salvage value has been estimated at $100,000. Th

e coal mine has an estimated 200,000 tons of available coal. A total of 70,000 tons were mined and sold during the current year. Complete the necessary journal entry to record depletion expense for the current year by selecting the account names and dollar amounts from the drop-down menus.
Business
1 answer:
melisa1 [442]3 years ago
6 0

Answer:

The Journal entry is as follows:

Depletion expense - Coal Deposit  A/c     Dr. $280,000

To Accumulated depletion -Coal Deposit                        $280,000

(To record the depletion expense for the current year)

Workings:

Depletion per ton = (cost - Salvage) ÷ Total units of production

                              = ($900,000 - $100,000) ÷ 200,000

                              =  $4 per ton

Depletion expense = Tonnage tons mined current year × Depletion per ton

                                = 70,000 tons × $4

                                = $280,000

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Zarrin [17]

Answer:

2.85

Explanation:

U.S. Treasury bills are a risk-free asset, and thus have a beta of zero. Since Stock A has a risk-level equivalent to that of the overall market, its beta is one. Therefore, the beta for Stock B can be found by:

1.28=0.35\beta_{T}+0.31\beta_{A}+0.34\beta_{B}\\1.28 = 0.35*0+0.31*1+0.34\beta_{B}\\\beta_{B}=\frac{1.28-0.31}{0.34}\\ \beta_{B}=2.85

The beta of Stock B is 2.85.

6 0
3 years ago
Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet da
grandymaker [24]

Answer:

Profit margin = net profit / total sales = $78 / $5,200 = 1.5%  

Asset turnover = total sales / average total assets = $5,200 / ($2,990 + $3,510) = 1.6

Return on assets = net income / average total assets = $78 / $3,250 = 2.4%  

Return on common stockholders’ equity =  net income / average stockholders' equity = $78 / ($992 + $1,031) = 7.71%  

Gross profit rate = gross profit / total sales = $1,716 / $5,200 = 33%

3 0
3 years ago
Universal Travel Inc borrowed $500,000 on November 1, 2018 and signed a twelve month note bearing interest at 6% Principal and i
horrorfan [7]

Answer:

Interest will be $5000

So option (A) will be correct option

Explanation:

We have given principal amount P = $500000

Rate of interest = 6 %

Time is November 1 to December 31

So time = 2 months = 0.1666 year

Interest is given by

Interest =\frac{principal\ amount\times rate\times time}{100}=\frac{500000\times 6\times 0.1666}{100}=$5000

So option (a) will be correct option

4 0
2 years ago
In which systems development life cycle do model developers use a model to generate functional requirements and physical design
Sergio [31]

The systems development life cycle in which model developers use a model to generate functional requirements and physical design specifications simultaneously is:

  • Prototyping life cycle

<h3>What is a Model?</h3>

This is a prototype which is used to represent a real thing to show the real life scenarios and applications on a much smaller scale.

With this in mind, we can see that in the prototyping life cycle, the model developers make functional requirements simultaneously to find out how the physical design specifications would look like.

Read more about life cycle here:
brainly.com/question/25754149

6 0
2 years ago
Risks of global trade include all of the following EXCEPT ________.
mihalych1998 [28]

Answer:

Option e: Increased opportunities for growth

Explanation:

Global trade is simply the exchange of goods between different countries.Trade is an exchange of items between people or countries.Countries are able to obtain goods they need from other countries.

four major risks in international business includes Country risk, commercial risk, cross-cultural risk, and currency risk.

Increased opportunities for growth is not an effect of risk in global trade.

6 0
3 years ago
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