It is becoming a global center for it, computer programming, and software.
Answer:
The bid amount should be $13,200,264.
Explanation:
An oil and gas producing company owns 42,000 acres of land in a southeastern state.
It operates 630 wells which produce 18,000 barrels of oil per year and 1.7 million cubic feet of natural gas per year.
The revenue from the oil is $1,800,000 per year and for natural gas the annual revenue is $581,000 per year.
Total Annual Revenue
= Revenue from oil + Revenue from gas
= $1,800,000 + $581,000
= $2,381,000
The bid amount should be the present worth of total annual revenue.
Present Worth of total annual revenue
= 
= 
= 
= 
= 
= 
= $13,200,264
I would see the process ends with the receipt of the goods. I used to work for a large open pit mine and go to the purchasers for buying materials for drilling etc and there would be first the requisition, then the purchaser would contact the seller or client and order the goods, then they would be purchased with the right account and finally received.
Answer and Explanation:
The computation is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($52,000 - $8,000) ÷ (4 years)
= ($44000) ÷ (4 years)
= $11,000
In this method, the depreciation is same for all the remaining useful life
a. The depreciation expense for 2019 is $11,000
b. The depreciation expense for 2020 is $11,000
c. The accumulated depreciation for year 2019 is $11,000
d. The accumulated depreciation for year 2020 is $22,000 ($11,000 + $11,000)
e. The book value is
= Original cost - accumulated depreciation
= $52,000 - $22,000
= $30,000
