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True [87]
3 years ago
12

Alaska Mining Co. acquired mineral rights for $67,500,000. The mineral deposit is estimated at 30,000,000 tons. During the curre

nt year, 4,000,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimal places.
Business
1 answer:
Advocard [28]3 years ago
3 0

Answer:

$9,000,000

Explanation:

The computation of the depletion expense for the current year is shown below:

Depletion rate per unit is

= Acquired mineral rights ÷ Estimated mineral deposit

= $67,500,000 ÷ 30,000,000 tons

= $2.25 per ton

If the 4,000,000 tons were mined and sold, so the depletion expense is

= $2.25 × 4,000,000 tons

= $9,000,000

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Certain economic principles are of considerable importance in the valuation of real estate. The principle that "no buyer will pa
Svet_ta [14]

Answer:

Substitution

Explanation:

Principle of subsitution states that no consumer should buy a product for a high price of he can get an alternative (duplicate) that is of a cheaper price.

Substitutes are alternatives that provide similar satisfaction to the customer.

When the price of one product goes up the customer has a choice of going for an alternative.

For example honey and sugar are substitutes. When the price of one goes down people will go for the cheaper alternative. This acts as a price control mechanism.

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3 years ago
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Eva8 [605]
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I hope my answer has come to your help. Thank you for posting your question here in Brainly. We hope to answer more of your questions and inquiries soon. Have a nice day ahead!
3 0
3 years ago
The following information pertains to Sheridan Company.
DanielleElmas [232]

Answer:

Adjusted Cash Balance at 31 August 2022 = 9654

Explanation:

Bank Reconciliation Statement at August 31, 2022

Cash Balance as per Bank  August 31,                                         $7338

Add: Deposit in Transit                                                                  $3010

<u>Deduct: Outstanding Checks                                                        ($694 )</u>

<u>Adjusted Cash Balance                                                                  $9,654</u>

<u />

Cash Balance as per books, August 31,                                        $7374

Add: Receivable collected by bank                                               $2326

<u>Less:Bank Service Charges                                                           ($46)     </u>

<u>Adjusted Cash Balance                                                                  $9,654 </u>

<u />

5 0
3 years ago
Which is the most accurate statement about trade? a. Trade can make every person better off. b. Trade helps rich people and hurt
laiz [17]

Answer:

a. Trade can make every person better off.

Explanation:

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A person can trade for product she produces, for example a person who produce a certain fruit can buy the same fruit when is off-station in their side of the world with another producer.

It could also trade becasue is the raw material of a finished product and it need more input for his facilities.

If a person or a party who is trading thinks is worse than before the trade, then it will stop trading so, as long as there is trade, both parties are better off after the trade.

7 0
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Vikki [24]

Answer:

February 125 call

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3 0
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