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natka813 [3]
3 years ago
6

Shale Miner Co. acquired mineral rights for $60,000,000. It is estimated that there are 80,000 tons of the resource; during the

current year, 10,750 tons were mined and sold. What is the amount of depletion for the current year?
a.$8,062,500
b.$100,750
c.$8,000,000
d.$60,000,000
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
3 0

Answer:

a.$8,062,500

Explanation:

The amount of depletion is the percentage of the total value that was already mined during the year. The percentage mined during the year is given by:

\% = \frac{10,750}{80,000} =0.134375

Since the mineral rights were acquired for $60,000,000, the amount of depletion (D) is given by:

D= \$60,000,000 * 0.134375\\D= \$8,062,500

The amount of depletion for the current year is $ 8,062,500

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The Marchetti Soup Company entered into the following transactions during the month of June:
fiasKO [112]

Answer:

Explanation:

The journal entries are shown below:

1. Merchandise Inventory A/c Dr $200,000

             To Account payable A/c $200,000

(Being the inventory purchased is recorded)

2. Salaries Expense A/c Dr $51,000

                      To Cash A/c $51,000

(Being salaries expenses are paid for cash)

3. Cost of goods sold A/c Dr $142,000

               To Merchandise Inventory $142,000

(Being the merchandise is sold for cost)

Accounts receivable A/c Dr $255,000

                To Sales revenue A/c  $255,00

(Being the merchandise is sold on credit)

4.  Cash A/c Dr $235,000

        To Accounts receivable A/c $235,000

(Being the cash is collected)

5. Accounts payable A/c Dr 180,000

           To Cash A/c 180,000

(Being cash is paid)

3 0
3 years ago
Double D Ranch and Esau enter into a contract on August 1 for the sale of 200 cattle. Esau cancels the contract ten days later.
ycow [4]

Answer:

Keep the cattle and recover the contract price from Esau

Explanation:

Since in the question it is given that the Double D Ranch and Esau enter into a contract on August 1 for selling of 200 cattle.

But Esau cancels the contract after 10 days. Now the Double D Ranch is not able to sell the cattle to the another buyer so in this case , the Double D Ranch should keep the cattle and get back the price of the contract from the another party i.e Esau as he cancels the contract

3 0
3 years ago
Jack's manufacture company have experienced inflation for the past three years as follows: the first year's periodic inflation r
ankoles [38]

Answer:

8.09%

Explanation:

Year          Inflation rate    1 + Inflation rate

1                     0.03                     1.03

2                     0.04                     1.04

3                         x                       1+x

Average rate  0.05                   0.05

1 + Average rate  = [(1+r1)*(1+r2)*(1+r3)]^(1/3)

1.05 = [1.03*1.04*(1*x)]^(1/3)

[1.0712*(1+x)] = (1.05)^3

[1.0712*(1+x)] = 1.157625

1 + x = 1.157625 / 1.0712

1 + x = 1.080681

x = 1.080681 - 1

x = 0.080681

x = 8.09%

Thus, the periodic Inflation rate in year 3 is 8.09%

5 0
3 years ago
Felipe works for an insurance agency with about 50 employees. The HR director recently sent an email requesting information on w
Zinaida [17]

Answer:

C.  Most people used the reply all button

Explanation:

This is a problem that can occur in companies due to misuse of e-mail functionalities. What happened in this case was that the employees who responded to the HR director's request email, used the reply button to all contacts forwarded in the director's original email, which ends up creating an email chain unnecessary and can hinder and delay the work of other employees, who need to see emails related to their role.

Therefore, the essential thing is that each employee makes use of the e-mail tool effectively, responding only to the recipient of the e-mail and avoiding sending unnecessary and private messages to contacts not interested in the professional subject addressed in the e-mail.

7 0
3 years ago
Many online stream services allow customers to use their service of limited for 30 days. This strategy tries to increase the dif
Vadim26 [7]

Answer:

trialability

Explanation:

trialability is the strategy used to try to increase the diffusion of new format using the service

8 0
2 years ago
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