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Serhud [2]
3 years ago
9

Felix Mining acquired a copper mine at a total cost of $3,000,000. The mine is expected to produce 6,000,000 tons of copper over

its five-year useful life and have no residual value. During the first year of operations, 750,000 tons of copper was extracted. Depletion for the first year should be:
Business
1 answer:
tiny-mole [99]3 years ago
4 0

Answer:

$375,000

Explanation:

The computation of the depletion expense for the first year is shown below:

= Total cost of a copper mine ÷ expected number of tons produced × extracted tons in the first year

= $3,000,000 ÷ 6,000,000 tons × 750,000 tons

= $375,000

We simply applied the above formula so that the depletion expense could come for the first year

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A(n)_____ is a structured review of specific quality management activities that help identify lessons learned that could improve
kvv77 [185]

A Quality Audit is a structured review of specific quality management activities that help identify lessons learned that could improve performance on current or future projects.

<h3>What is an Audit?</h3>

An audit is the physical and thorough inspection of an organization's account or activities carried out by an independent body.

In a Quality management system, a Quality audit must be carried out. The quality audit is a structured review regarding the quality management activities that helps in improving performance of the organization.

Learn more about Audit here:

brainly.com/question/26048609

3 0
2 years ago
Messing Company has an agreement with a third-party credit card company, which calls for cash to be received immediately upon de
olasank [31]

Answer:

Thee jounal entry for January 1 of Messing Company is done below.

Explanation:

3.5% * 4000 = 140

Date                Account Titles                                                Dr             Cr

Jan 1           Cash                                                                $3,860

                   Credit Card Expense                                        140

                          Sales Revenue                                                           4,000

4 0
3 years ago
You are considering two ways of financing a spring break vacation. you could put it on your credit​ card, at 17 % ​apr, compound
shutvik [7]
<span>Credit card has slightly lower interest rate. Let's take a look at both interest rates for 1 year and see what costs more. First, the credit card at 17% apr compounded monthly. Each month, 17%/12 interest will be taken. The total interest over the year will be (1 + 0.17/12)^12 = 1.183891728 times the original debt. Now let's look at the loan from the parents. Over 1 year, you'll be accumulating 2 interest payments. The formula for the year will be (1 + 0.09)^2 = 1.1881 Comparing the overall rate between the credit card and the parents, the credit card is slightly lower than the parents.</span>
7 0
3 years ago
"Income tax was $175,000 for the year. Income tax payable was $30,000 and $40,000 at the beginning and end of the year, respecti
kolezko [41]

Answer:

Cash payments for income tax  = $165000

so correct option is C. 165,000

Explanation:

given data

Income tax = $175,000

beginning tax payable = $30,000

end of the year tax payable = $40,000

to find out

Cash payments for income tax reported on the statement of cash flows

solution

we get here Cash payments for income tax that is express as

Cash payments for income tax  = Income tax  + beginning tax payable - end of the year tax payable      ..............................1

put here value we get

Cash payments for income tax  = $175000 + $30000 - $40000

Cash payments for income tax  = $165000

so correct option is C. 165,000

5 0
3 years ago
Jeff was in a department store standing near a clothing rack. Store security felt that he was acting suspiciously because he was
liraira [26]

Answer:

c. No; the facts of this situation do not provide reasonable grounds for a stop and search. Any attempt to do so by store security could result in a claim of false imprisonment.

Explanation:

According to the situation described in the question above, store security has no right to stop and search for Jeff. Therefore, the letter c is the most correct answer to this question.

Jeff's actions in the store do not provide sufficient reasons for there to be any kind of stop and research, as the facts in the situation do not provide enough information about an illegal act, so if store security forces a situation there could be legal damage to the store .

Therefore, it is essential that stores adopt a theft prevention strategy, with an effective security system and a team prepared to carry out correct approaches.

4 0
3 years ago
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