Answer and Explanation:
The computation and the journal entries are shown below:
a. The depletion rate is
= $203,200,000 ÷ $12,700,000 tons
= $16 per ton
b. The amount of depletion expense for the current year is
= $16 × $2,980,000
= $47,680,000
c. The journal entry is shown below:
Depletion Expense $47,680,000
To Accumulated Depletion $47,680,000
(Being the depletion expense is recorded)
For recording this we debited the depletion expense as expenses is increased and credited the accumulated depreciation as it reduced the assets
Answer:
the monthly payment is $966.6401
Explanation:
The computation of the monthly payment is shown below:
= $50,000 × (1 ÷ 0.005) × (1-(1 ÷ ((1+0.005)^60)))
= $50,000 × 51.72556
= $966.6401
The rate of interest is
= 6% ÷ 12
= 0.005
Hence, the monthly payment is $966.6401
Answer:
it refers to cost of something and its worth manship
Answer:
Total unitary cost= $118.5
Explanation:
Giving the following information:
Units produced 54,000 units
Direct labor $47 per unit
Direct materials $40 per unit
Variable overhead $29 per unit
Fixed overhead $ 135,000
Under absorption costing, the unitary production cost is calculated using the direct material, direct labor, and total unitary overhead (including fixed overhead).
Unitary cost= direct material + direct labor + unitary variable overhead + unitary fixed overhead
Unitary fixed overhead= 135,000/54,000= $2.5 per unit
Total unitary cost= 47 + 40 + 29 + 2.5= $118.5
Answer:
journal entry are as given below
Explanation:
given data
carrying value = $56,800
bonds decreased value = $48,100
solution
we know that here impairment loss for organization when future estimate value of assets is less than carrying value of assets
and all loss and expenses are debit
and by the impairment loss value of investment decline so maturity id credit
so here
impairment loss is
impairment loss = carrying loss - decrease value ............1
impairment loss = $56,800 - $48,100
impairment loss = $8700
so journal entry are as
date title Debit Credit
Impairment loss $8700
investment held to maturity $8700