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
Blizzard [7]
2 years ago
14

A coal company invests $12 million in a mine estimated to have 20 million tons of coal and no salvage value. it is expected that

the mine will be in operation for 5 years. in the first year, 1,000,000 tons of coal are extracted and sold. what is the depletion expense for the first year?
Business
1 answer:
lilavasa [31]2 years ago
5 0
2 percent is the depletion
You might be interested in
When an individual invents a new product and patents it, a writer copyrights and publishes a book, or a company develops a symbo
horsena [70]

Answer:

A. Intangible assets

Explanation:

Intangible assets: They refers to assets that are not physical in nature. They are identifiable, non-monetary assets without physical substance such as brand recognition, intellectual property. Intellectual property includes patent right, copyright, and trademarks.

Intangible assets lice brand names are non physical in nature unlike tangible assets that are phsysical. Examples of tangible assets are building, vehicle, land, machineries and furnitures. They are assets that is expected to generate economic return in the future.

There are two classes of intangible assets

1. Identifiable intangible assets: These are intangible assets that can be separated from other assets such as copyright, trademarks and patent.

2. Unidentifiable intangible assets: They are assets that cannot be separated from other assets such as Goodwill.

5 0
3 years ago
When there few close substitutes available for a​ good, demand tends to be
e-lub [12.9K]
B. relatively inelastic
8 0
3 years ago
The Atlantic Company sells a product for $150 per unit. The variable cost is $60 per unit, and fixed costs are $270,000. What is
avanturin [10]

Answer:

The break even units are 3000 units and when it desires the profit of $36000 then sales unit is 3400 units.

Explanation:

The selling price of a product (SP) = $150 per unit.

Variable cost (VC) = $60 per unit.

Fixed cost of the company = $270000

Break-even units can be calculated by dividing the fixed cost from the difference in selling price and variable cost.

Break even Units = (fixed cost) / ( SP – VC)

= 270000 / (150-60)

= 3000 units.

Break-even units when a company desires a profit of $36000.

Desired units for sales = (Fixed Cost + Profit)/ Contribution per unit

= (270,000 + 36,000) / (150 - 60)

= 3,400 units

7 0
3 years ago
A company's beginning Work in Process inventory consisted of 20,000 units that were 80% complete with respect to direct labor. A
zloy xaker [14]

Answer:

Total number of equivalent units= 100,000

Explanation:

Giving the following information:

A total of 90,000 were finished during the period and 25,000 remaining in Work in Process inventory were 40% complete with respect to direct labor at the end of the period.

Weighted-average method:

Units completed= 90,000

Ending inventory= 25,000*0.4= 10,000

Total number of equivalent units= 100,000

3 0
3 years ago
A company purchased inventory for $ 2 comma 000 from a vendor on​ account, FOB shipping​ point, with terms of 2​/10, ​n/30. The
Flauer [41]

Answer:

Inventory would be 1, 768

Explanation:

2,000  goods

 +200  freight-in (A)

  -400  returned goods

 <u>   -32 </u> discount (B)

1, 768 net amount for inventory

<u>Notes:</u>

(A) The freight-in will be included in the inventory, as is a cost needed to have the inventory in the company's possession and be ready to use or sell.

(B) goods x discount rate

net goods 2,000 - 4,00 return = 1,600

discount for payment within 10 days 2%

Discount on purchase: 1,600 x 2% = 32

8 0
3 years ago
Other questions:
  • What are the portfolio weights for a portfolio that has 138 shares of Stock A that sell for $48 per share and 118 shares of Stoc
    13·1 answer
  • What may happen if the threaded heating element in percolator is not very tightly mounted
    14·1 answer
  • what percentage of motorists have witnessed an act of aggressive driving in the past year, according to the Citizens For Roadsid
    13·2 answers
  • North Around, Inc. stock is expected to return 22 percent in a boom, 13 percent in a normal economy, and −15 percent in a recess
    11·1 answer
  • What do individual shareholders gain when they buy shares of a company’s stock?
    13·1 answer
  • An externality is an intangible effect of production and purchases.<br> TRUE<br> FALSE
    8·1 answer
  • On January 23, 10,000 shares of Tolle Company are acquired at a price of $30 per share plus a $100 brokerage commission. On Apri
    15·1 answer
  • Companies that practice marketing by ________ create offerings and messages that engage consumers rather than interrupt them. Gr
    11·1 answer
  • Comans Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and comp
    13·1 answer
  • Name two advantages offered by a credit union.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!