Anish kapoor's to reflect an intimate part of the red represents:

The Weber Company purchased a mining site for $1,750,000 on July 1. The company expects to mine ore for the next 10 years and an

AlladinOne [14]

Answer:

The correct solution is "$26,000".

Explanation:

The given values are:

Cost

= $1,750,000

Salvage value

= $150,000

First Year Extraction

= 6,500

Total Extraction

= 400,000

Now,

⇒ $Depletion \ Expense = (Cost - Salvage \ value)\times (\frac{First \ Year \ Extraction}{Total \ extraction} )$

On putting the values, we get

⇒ = $(1,750,000 - 150,000)\times (\frac{6,500}{400,000} )$

⇒ = $1,600,000\times 0.01625$

⇒ = $26,000$ ($)

4 0

3 years ago

A company understated its ending inventory balance by $5,000 in 2018. What impact will this error have on cost of goods sold and

madreJ [45]

Answer:

COGS overstated for 5,000

Explanation:

<em>The COGS will be overstated for the same ammount,</em> that is because of the inventory identity.

$$$Beginning Inventory + Purchase = Ending Inventory + COGS$

If ending Inventory has a problem, it will be transferred to COGS as well to equalize the formula

If ending Inventory is understated it means their alue is less than it's real value,

$$$Beginning Inventory + Purchase \neq Ending Inventory (Real Inventory - Understimation) + COGS$

so to balance the formula COGS need to be overstated.

$$$Beginning Inventory + Purchase = Ending Inventory (Real Inventory - Understimation) + COGS(Real COGS + EI error)$

3 0

3 years ago

Which crop finally ensured the long-term success of the Jamestown colony?

Sauron [17]

Tobacco ensured the long-term success of Jamestown.

6 0

3 years ago

Read 2 more answers

Following are the transactions for Valdez Services. The company paid $2,000 cash for payment on a 6-month-old account payable fo

laiz [17]

Answer:

accounts payable 2,000 debit

cash 2,000 credit

salaries expense 1,200 debit

cash 1,200 credit

Equipment 39,000 debit

cash 39,000 credit

utilities expense 800 debit

cash 800 credit

B-Valdez drawins 4,500 debit

cash 4,500 credit

Explanation:

In all cases the company is using cash. It is performing a cash disbursements thus we credited.

In the debit side we post what we receive or destination of the cash.

Like, equipment, salaries expense and so on.

7 0

3 years ago

Ted Jones owns rental properties in Texas. Each property has a property manager, who collects the rent once per month, arranges

Anarel [89]

Answer:

Answers explained below

Explanation:

1) The purpose of a bank reconciliation to compare the company's records to those of that of the Bank Statement, to see if there are any kind of difference between these two sets of records for ther cash transactions. The bank reconciliation process requires comparing the bank statement with Cash book records towards withdrawals, check payments, direct deposits received by bank, direct payments/charges by bank, cash deposits and financial transfers.

2) To avoid the theft of cash, the internal controls requires a through checks of the receipt and payments in the cash book must be compared with the cash receipts and cash payments by the bank in their bank statement.

3) The misappropriation of cash and showing the outstanding checks at the lower level will indicate that the cash generation by the property is less. It will disturb the valuation of the property by the potential investors through the cash generation method, which will result in loss / harm to Jones.

7 0

3 years ago