Answer:
The journal entries are as follows:
(a) Oil and gas properties A/c Dr. $6,600,000
To cash $6,600,000
(To record purchase)
(b)
Oil and gas properties A/c($570,000 + $450,000) Dr. $1,020,000
To cash $1,020,000
(To record additional testing and preparations)
(c) Depletion expense A/c Dr. $548,640
To accumulated depletion $548,640
(To record Depletion)
Workings:
Depletion expense:
= $548,640
Answer:
You should recommend that they swim:
a. 3 days per week
b. High intensity
Explanation:
The full meaning of COPD is Chronic Obstructive Pulmonary Disease. It is a disease that affects the lungs of a person and makes it very hard for that person to breathe.
We have 4 stages of COPD
a. Stage 1: Mild COPD
b. Stage 2: Moderate COPD
c. Stage 3: Severe COPD
d. Stage 4: Very Severe COPD
Symptoms of COPD include coughing, production of mucus during coughing, difficulty in breathing.
Answer:
Present Value = $57,099.57
Explanation:
<em>The Present Value of a series of future equal amount is the amount the sum in today's terms that would make one to be indifferent . It is the future series of cash flows discounted at the opportunity cost rate of return.</em>
Present Value = A × ( 1-(1+r)^(-n))/r
A- annual cash flow- 20,000, r- discount rate - 15%, n number of years- 4
PV = 20,000 × (1- 1.15^(-4))/0.15
= 20,000 × 2.85498
= $57,099.57
<span>The balance in total assets after the transaction is $36,000. This is because expenses are not assets. An asset must have value, meaning that it can be either be sold, or that the consumption of it will garner income. Expenses such as taxes or legal fees cannot later be sold or consumed for income.</span>