Answer:
1) total cost $3,209,909
<u><em>journal entries:</em></u>
copper deposit 3,209,909 debit
cash 2,800,000 credit
restoration liability 409,909 credit
Explanation:
mine deposit: 2,000,000 land
+ 800,000 extraction
<u> + 409,909</u> restoration cost
3,209,909 total cost
expected monetary value of the restoration cost:
![\left[\begin{array}{cccc}$Electrical&Return&Probability&Weight\\$One&500,000&0.25&125,000\\$Second&600,000&0.4&240,000\\$Third&800,000&0.35&280,000\\$Total&&1&645,000\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7D%24Electrical%26Return%26Probability%26Weight%5C%5C%24One%26500%2C000%260.25%26125%2C000%5C%5C%24Second%26600%2C000%260.4%26240%2C000%5C%5C%24Third%26800%2C000%260.35%26280%2C000%5C%5C%24Total%26%261%26645%2C000%5C%5C%5Cend%7Barray%7D%5Cright%5D)
<em><u>preset value of restoration cost:</u></em>
Maturity $645,000.00
time 4.00
rate 0.12000
PV 409,909.1606
The company would have 12,247 subsidiary accounts.
<h3>What is a credit?</h3>
A credit is a loan facility granted by a bank or an institution to its customers. This is to enable the customers access funds with a view to paying back at a future date.
Companies or institutions grant credit facilities to encourage their customers plan for their business and then pay back later.
Hence, the company would have 12,247 subsidiary accounts since they extend credits to 12,247 customers.
Learn more about credits here : brainly.com/question/9913263
Answer:
4. Fiscal year
Explanation:
Reporting period refers to the period or time covered by a set of financial statements. It is the accounting period in which a given financial report will be covered. It may either be monthly, quarterly or yearly depending on organization's choice.
Now, fiscal year is an accounting period or reporting period that consist of 12 month used for accounting purposes. It is a yearly reporting period made up of 12 consecutive months. It may or may not correspond to the normal calendar year depending on the organization's choice or decision.
The correct answer is letter c. create consumer demand. Advertising, fashion trends, and new product introductions serve to create consumer demand.
Disequilibrium occurs when the quantity supplied and the quantity demanded are not the same in a market. The statement presented is True.
