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oee [108]
3 years ago
11

Bering rock acquires a granite quarry at a cost of $590,000, which is estimated to contain 200,000 tons of granite and is expect

ed to take 6 years to remove. what journal entry would be needed to record the expense for the first year assuming 38,000 tons were removed and sold?
Business
1 answer:
eimsori [14]3 years ago
3 0
<span>The expense would be $112,100. After putting 38,000 over 200,000 tons (38000/20000), dividing this would provide you with the percentage of rock removed. Which is 0.19, after which you would multiply this by 590,000 which would you bring you to the expense for removal.</span>
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Answer:

a. -$82,250

Explanation:

Calculation for what is the projects initial cash

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What gives the us government the right to collect taxes?
irakobra [83]
The sixteenth amendment 
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The Marshall Company has a process cost system. All materials are added when the process is first begun. At the beginning of Sep
Mademuasel [1]

Answer:

c) 48,000 units

Explanation:

The question is to compute the equivalent units of materials in September for Marshall Company

It is computed as follows:

1) Beginning Equivalent Unit

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Equivalent Units  Started ad Completed

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4 0
3 years ago
Which of the following statements about income taxes is not correct?
Anastaziya [24]

The correct statement regarding the income tax is Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future. hence option C is correct

<h3>What is income tax?</h3>

A tax placed on people or organizations in relation to their income or profits is known as an income tax. Tax rates multiplied by taxable income are typically used to calculate income taxes. Tax rates might change depending on the taxpayer's attributes and source of income.

The complete part of the question is below:

A) Review Later Income tax expense includes both the amount of tax payable in the current period and the amount of tax due in future periods.

B)Income taxes are based on taxable income and not accounting income.

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D)Deferred taxes arise because of temporary differences between the tax base and the carrying amount of assets and liabilities on the balance sheet.

Hence option C is correct.

Learn more about income tax:

brainly.com/question/17075354

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2 years ago
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