1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ella [17]
3 years ago
11

For an oil and gas limited partnership (LP), allowances in the form of deductions are allowed by the IRS to be taken to compensa

te for a depleting resource. The allowance can be taken based on
Business
1 answer:
Triss [41]3 years ago
3 0

Answer:

The allowance can be taken based on:

a reduction (production) of the oil and gas reserves.

Explanation:

A limited partnership's allowance for depletion is a special form of depreciation used to account for the gradual reduction in the value of natural resources based on their usage or consumption.  There are two methods for recognizing depletion of natural resources.  They are the cost depletion method, which is based on usage, and the percentage depletion method, which is a percentage of gross earnings.  Then, depletion is different from depreciation, in that depreciation is for tangible assets, while depletion is for natural assets.

You might be interested in
Preparing an Ending Finished Goods Inventory Budget Andrews Company manufactures a line of office chairs. Each chair takes $14 o
tigry1 [53]

Answer:

Consider the following calculations

Explanation:

1. Direct material         $14

Direct labor (16*1.9) 3.04

Variable overhead (1.1*1.9) 2.09

Fixed overhead (1.5*1.9) 2.85

Unit product cost          $21.98

2. Cost of budgeted ending inventory = 21.98*620 = $13, 628

3 0
4 years ago
Read 2 more answers
Explain SHOW WORK 16. On November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $9,000. Alan made the
soldi70 [24.7K]

Answer:

c. Debit Notes Payable $9,000; debit Interest Expense $240; credit Cash $9,240.

Explanation:

Interest Expense = $9,000 x 0.08 x 120 / 360 = $240

6 0
4 years ago
you are shopping an order but, upon your attempt to deliver you find that the member does not seem to be home and they are not r
Bad White [126]
Send a email or leave it at the door
6 0
4 years ago
As a small business owner, Jasmine can't afford to provide her employees with the high wages and benefits offered by big corpora
marusya05 [52]

Answer:

The correct answer is letter "C": empower her employees to develop their own ideas.

Explanation:

Providing employees with higher wages or training are not the only forms to keep them engaged with the company. Some workers look for self-development and obtaining expertise with a job. Thus, <em>organizations should also focus on empowering employees by giving them more responsibility at the moment of making decisions on their day-to-day duties. By keeping them motivated employees are likely to be more productive.</em>

4 0
3 years ago
Pioneer has developed a new consumer electronics item-a heterogeneous shopping product with unique patented features. it probabl
eduard
<span>Answer: Pioneer has developed a new consumer electronics item-a heterogeneous shopping product with unique patented features. it probably should use a marketing mix of-Selective distribution, skimming pricing, pioneering.</span>
7 0
3 years ago
Other questions:
  • Analytical procedures are best used as a substantive audit procedure in which of the following scenarios?a. The auditor's primar
    10·1 answer
  • In general, prices should not be based on costs because
    10·1 answer
  • Software Sales Supply is expected to pay its first annual dividend of $1.10 per share in Year 3. Starting in Year 6, the company
    7·1 answer
  • On the chart below the environment case for the Jones company can be observed. The dotted line demonstrates a broad gap between
    15·1 answer
  • The Consumer Products Division of Goich Corporation had average operating assets of $1,450,000 and net operating income of $133,
    15·1 answer
  • Entertainer's Aid plans five annual colossal concerts, each in a different nation's capital. The concerts will raise funds for a
    6·1 answer
  • The following is a report from a not-very-efficient BLS survey taker: "There were 105 people in the houses I visited. 26 of them
    7·1 answer
  • Indicate which barrier to entry appropriately explains why a monopoly exists in each scenario?
    10·1 answer
  • You are given two companies. Company A is expected to return 10% with standard deviation of 23%. The beta of Company A is 1.75.
    8·1 answer
  • Use the statistics and probabilities that you compile to make a prediction about which team will win.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!