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quester [9]
4 years ago
9

A company purchased a tract of land for its natural resources at a cost of $1,500,000. It expects to mine 2,000,000 tons of ore

from this land. The salvage value of the land is expected to be $250,000. If 150,000 tons of ore are mined during the first year, the journal entry to record the depletion is:
Business
1 answer:
mezya [45]4 years ago
5 0

Answer: Please see below

Explanation:

Depletion  expense =  Initial price Purchase  - Residual value /  Total number of units.

 $1,500,000 - $250,000/ 2,000,000 = 0.0625 per ton

if 150,000 tons of ore are mined,

Depletion expense  = depletion per ton x units mined

                    0.625 x 150,000=$93,750

journal entry to record the depletion is:

Account                                       Debit        Credit

Depletion expense                  $93,750

Accumulated Depreciation                      $93,750

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Olinick Corporation is considering a project that would require an investment of $354,000 and would last for 8 years. The increm
Schach [20]

Answer:

3.7 years

Explanation:

Given that,

Initial investment = $354,000

Net income = $47,000

Depreciation = $48,000

Annual cash flow:

= Net income + Depreciation

= $47,000 + $48,000

= $95,000

Payback period:

= Initial investment ÷ Annual cash flow

= $354,000 ÷ $95,000

= 3.7 years

The payback period of the project is closest to 3.7 years.

6 0
3 years ago
In today's organization, many employers appear to prefer to work for a supervisor with a ________ leadership style.
vova2212 [387]
<span>A supervisor in today's work environment needs to be flexible and adaptable. Employees today expect a lot more opportunities to do things such as work from home. Also in today's more technological world, demands on the supervisor and employer change frequently. Because of all of this, employers and employees prefer a people-centered leadership style.</span>
3 0
4 years ago
if abc company receives $100,000 cash in exchange for issuing 100 bonds at their $1,000 face value, the transaction will be reco
m_a_m_a [10]

Based on the information the appropriate journal entry to record the transaction is : Debit to cash of $100,000; Credit to bonds payable of $100,000.

Based on the information given we were told that the cash  amount of $100,000 cash was received my the company in exchange for issuing 100 bonds at their $1,000 face value.

Therefore the correct journal entry to record the transaction is:

Debit  Cash  $100,000

Credit Bonds payable  $100,000

(To record bonds payable)

Learn more here:<em> brainly.com/question/19091678</em>

8 0
3 years ago
Companies such​ as IBM, Walmart, and Google now look beyond economic gain​ and, in their marketing​ strategies, they also consid
sveticcg [70]

Answer:

The societal marketing concept                

Explanation:

Societal marketing refers to the marketing idea that maintains that a firm should make creative decisions not only through taking into account the needs of customers, the criteria of the corporation, but also the lengthy-term interests of society.

The principle of societal marketing holds that the role of the company is to assess a target market's desires, wishes and preferences and to produce the desired satisfactions more effectively and efficiently than rivals in a manner that maintains or improves the very well-being of all individual consumers and general society.                  

5 0
4 years ago
What is the minimum wage per hour in South Africa at<br> 2021?​
DedPeter [7]

Answer:

R21,69

Explanation:

Minimum wage is least amount a worker can earn in a particular country according to the legislation of that country.

According to the Employment and Labour minister TW Nxesi, he announced that the National Minimum Wage (NMW) for each ordinary hour worked has increased from R 20,76 to R 21,69 for the year 2021 effective from 01 March 2021.

The NMW legislation came into effect in South Africa on 01 January 2019 at a level of R 20 per hour. In terms of NMW act of 2018, the policy framework is a floor level below which no employee should be paid.

So, <u>the minimum wage in South Africa as at 2021 is R 21,69</u>

6 0
3 years ago
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