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
Norma-Jean [14]
3 years ago
5

A company acquired mineral rights for $7,500,000. The mineral deposit is estimated at 600,000 tons and during the year 100,000 t

ons were extracted and sold. a. Calculate depletion expense for the year. b. Show the effects on the accounts and the financial statements of the company. c. What is the book value of the mineral rights at the end of the current year
Business
1 answer:
omeli [17]3 years ago
7 0

Answer:

The answer is given below;

Explanation:

a. Depletion Expense for the year  ($7,500,000/600,000)*100,000=$1,250,000

b. The net income and as a results retained earnings  will be reduced $1,250,000

c.    The mineral rights will be reported at $7,500,000-$1,250,000 =$6,250,000

You might be interested in
Anna and ben are up for the same promotion at work. when it comes time to make a decision, the management committee chooses ben
harkovskaia [24]
I believe that Anna has just encountered a glass ceiling. 
This means that Anna has encountered a barrier that her from rising to the level of management committee through promotion simply because she is a woman.This term is extended to refer to the obstacles that hinder the advancement of minority women. It is often difficult for minority women to rise to ranks  simply because of their responsibilities, color and discrimination. In this case, Anna being a good mother to her children makes the management think that she wont want more responsibilities. 
3 0
3 years ago
Read 2 more answers
Process capability evaluation allows us to: Select one: a. check customer requirements against what a process is able to achieve
Levart [38]

Answer:

Process capability evaluation allows us to:

a. check customer requirements against what a process is able to achieve.

Explanation:

Process capability evaluation involves the set of tools used to analyze the performance of a given process against desired specifications.  This means that it measures how well a process performs against targets.  There are different measures of process capability.  For example, Sigma Six is used as a process capability evaluation.  Process capability index is also used to evaluate a process' capability, where the upper and lower limits are measured.

4 0
3 years ago
An import​ quota: A. Is always more costly to a country than an import tariff. B. Has the same effects on welfare as an import t
Ivahew [28]

Answer:

D. Generates rents that might go to foreigners.

Explanation:

An import quota is the trade restriction imposed by the government on the quantity of the particular commodity to be imported from another country. It protects domestic producers from foreign competition. Overseas goods are generally very cheap compared to locally produced goods, which can destroy a business from the market and can make foreign companies be the leader of the market, who can control the price and quality of the product. Therefore, it very helpful to the local producer in sustaining and generating profit in the market.

3 0
3 years ago
A real estate investor researches 4-plex apartment complexes in a city and finds that from 2000 to 2012, the average price of th
Dahasolnce [82]

Answer:

221,672

Explanation:

To find the rate of increase, find differential of p(t)

p(t)= 0.15e^(0.2t)

dp/dt= 0.03e^(0.2t)

at t=10

dp/dt= 0.03e^(0.2×10)

dp/dt= 0.03e^2

dp/dt= 0.221672 million dollars

dp/dt= 221,672

4 0
3 years ago
Read 2 more answers
Sharman Athletic Gear Inc. (SAG) is considering a special order for 15,000 baseball caps with the logo of East Texas University
Vedmedyk [2.9K]

<u>Solution and Explanation:</u>

The data of SAG of special order is given below:

Cost per unit = $3.50 , Allocated fix cost = $1.50 , Number of units in order = 15000

<u>Calculated the total cost of the special order as follows: </u>

Incremental cost per unit = Cost per unit-Allocated fix cost  =$(3.50 minus 1.50)  =$2

Incremental cost per unit=cost per unit-allocated fix cost  =$(3.50 minus1.50) =$2

Total incremental cost 15000 unit = number of units in order x Incremental cost per unit  =15000 multiply $2  =$30000

Therefore, total cost of the special order is $30000

b) Offering price by ETU = $35000. Hence, the offer made by ETU would affect the short term of the special order.

Contribution cost = $(35000 minus 30000)  =$5000

6 0
3 years ago
Other questions:
  • Why studying central tendency alone is insufficient and calculating dispersion is always needed in both descriptive and inferent
    14·1 answer
  • In​ economics, the best definition of technology is: A. the speed of communication. B. the development of new products. C. the p
    14·1 answer
  • Written communications fall into two categories: paper-based and electronic. Which of the following are paper-based messages? Ch
    11·1 answer
  • Capital Radio PLC, the United Kingdom's biggest commercial radio firm announced in 2002 that it would cooperate with Walt Disney
    15·1 answer
  • Given the following historical demand and forecast, calculate the Tracking Signal in Week 3:Week 1 Demand: 50 Forecast: 49Week 2
    9·1 answer
  • Job cost sheets can be used to: (Check all that apply.) Multiple select question. provide a permanent record for the Cost of Goo
    10·1 answer
  • Which of the following is required to be present in an Employment Verification Letter?
    5·1 answer
  • cornelius owns grand games, a high-end store that retails games and toys that are handcrafted and carefully selected. cornelius
    15·1 answer
  • Beneficiaries are responsible for of prescription costs
    12·1 answer
  • In a balanced balance sheet, if liabilities are $2,000 and owner’s equity is $3,300, what must assets be ____?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!