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
Aleonysh [2.5K]
2 years ago
9

In February 2018, Brilliant Industries purchased the Topaz Mine at a cost of $10,000,000. The mine is estimated to contain 500,0

00 carats of stone and to have a residual value of $500,000 after mining operations are completed. During 2018, 50,000 carats of stone were removed from the mine and sold. In this situation:
A. The mine is classified as an intangible asset and amortized over a period not to exceed 40 years.
B. The amount of depletion deducted from revenue during 2018 is $950,000.
C. The book value of the mine is $9,000,000 at the end of 2018.
D. The amount of depletion deducted from revenue during 2018 is $1,000,000.
Business
1 answer:
morpeh [17]2 years ago
8 0

Answer:

B. Depletion will be $950,000 during  2018

Explanation:

Cost           $10,000,000

Residual Value ($500,000)

Cost to be depleted $9,500,000

No. of Carats to be extracted over the life of mine 500,000

Per carat depletion (9,500,000/500,000)     $19

Depletion for the year 2018     $19*50,000=$950,000

This will be deducted from revenue as depletion for the year.So option B is correct.

You might be interested in
Wants to start a fashion boutique that will sell tailor-made garments and accessories. She plans to open boutique stores in life
Akimi4 [234]

Answer:

commercial bank people will help her in that regard

5 0
3 years ago
Capstone Investments is considering a project that will produce cash inflows of $11,000 at the end of Year 1, $24,000 in Year 2,
kherson [118]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Cash inflows:

Year 1= $11,000

Year 2= $24,000

Year 3= $36,000

To calculate the present value, we need to use the following formula:

FV= PV*(1+i)^n

Isolating PV:

PV= FV/(1+i)^n

Year 1= 11,000/(1.12)= $9,821.43

Year 2= 24,000/(1.12^2)= $19,132.65

Year 3= 36,000/(1.12^3)= $25,624.09

Total= $54,578.17

3 0
3 years ago
Mars inc., a manufacturer of cat food in texas, places an ad in a publication aimed at veterinarians. the ad explains why they s
ioda
The correct option from the given options is "<span>a promotional push strategy".

In the above situation, Mars Inc. utilized a promotional push strategy. Projects intended to influence the exchange to stock, merchandise, and advance a maker's items are a piece of a limited time push procedure. The objective of this technique is to push the item through the channels of appropriation by forcefully offering and elevating the thing to the affiliates, or exchange.
</span>
7 0
3 years ago
Ordering cost only consists of the shipping cost from supplier to customer. True or False
Dennis_Churaev [7]

Answer:

False

Explanation:

Ordering costs are the costs incurred when materials are requested for. These components of this cost are:- 1)Clerical and administrative costs involved in purchasing and accounting for the goods ordered.

2)Cost of transportation

3)Retooling cost: This happens when the product is manufactured internally. Retooling means change of working tools.

4)Insurance while in transit.

5)Drivers' salaries and allowances

6)Loss of materials while in transit.

7)Taxes, custom duties and import duties.

3 0
2 years ago
Read 2 more answers
Explain why peccarelli returned to guatemala and describe the goals his team are trying to accomplish.
Leno4ka [110]

The reason why Peccarelli returned to Guatemala was to look for the bodies of a tragedy that happened in his childhood and help identify them. His team’s goals are to talk to the families of the deceased and to give the families closure.

7 0
3 years ago
Other questions:
  • The Allowance for Doubtful Accounts: Multiple Choice Is credited when bad debts expense is estimated and recorded. All of the op
    11·1 answer
  • A supervisor who has more than seven people reporting to him or her: select one:
    15·1 answer
  • _________ are typically responsible for planning and allocating resources to meet organizational objectives. to answer, type onl
    9·2 answers
  • Between 1985 and x there was a period of no gains in the efficient of passenger vehicles (automobiles). Regulations required eff
    8·1 answer
  • "A ________ is a characteristic providing a legitimate reason why an employer can exclude persons on otherwise illegal bases of
    6·1 answer
  • Coaches can receive a bonus from the booster club at the conclusion of a season.
    9·1 answer
  • Which statement is not true about the minimum wage?
    7·1 answer
  • The ledger of Mai Company includes the following accounts with normal balances: Common Stock, $10,200; Dividends, $1,400; Servic
    14·1 answer
  • The following items are components of a traditional Balance Sheet. How much are the total assets of the firm?
    13·1 answer
  • How ethics and profit are interrelated ?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!