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Verdich [7]
4 years ago
9

The Weber Company purchased a mining site for $1,600,000 on July 1. The company expects to mine ore for the next 10 years and an

ticipates that a total of 400,000 tons will be recovered. During the first year, the company extracted 6,500 tons of ore. The depletion expense is
Business
1 answer:
Debora [2.8K]4 years ago
6 0

Answer:

$26,000

Explanation:

To calculate the total depletion expense for a year, we must first calculate the depletion expense for every ton of ore extracted:

depletion expense per ton = cost of the mine / total tons extracted

depletion expense per ton = $1,600,000 / $400,000 = $4 per ton extracted

If during the first year Weber Company extracted 6,500 tons, their depletion expense for the year = 6,500 tons x $4 per ton = $26,000

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Google provides a 1 year warranty on its cell phones. At the end of 2019 Google estimates they will spend $2m in 2020 to repair/
DochEvi [55]

Answer:

DR Warranty Payable $1.9m; CR Cash $1.9m.

Explanation:

When a company creates a payable it is obligated to pay a certain amount within a particular period.

In this case Google provides a 1 year warranty on its cell phones, so any claims that will attract repair or replacement is a payable obligation.

In the year 2019 they actually paid $1.9 million for repairs and replacements.

So the journal entry to be passed is DR Warranty Payable $1.9m; CR Cash $1.9m.

8 0
3 years ago
Oilers, Inc. refines and markets its energy products in different nations around the world. In addition, Oilers' stockholders an
enot [183]
I think it’s D or C but I’m not sure
4 0
4 years ago
Your company has sent you an email telling you your department must increase the daily output goal of 120 widgets per hour, to 1
-Dominant- [34]

Answer:

Participative Leadership style.

Explanation:

Participative leadership, also known as democratic leadership, is one in which the leader has the central focus of employee engagement and participation in important company decisions. In this style of leadership, the manager has a crucial role of being the main motivator and advisor of the team, being solicitous to guide, coordinate and assist his subordinates in all their work demands, so that the goals and organizational goals are achieved.

This style of participatory leadership would be more appropriate for this scenario as there are deadlines for completing tasks, which requires a motivated and productive team, which is essential in participatory leadership.

The motivation of employees is achieved due to clear and guiding communication from the leader, which creates the perception of inclusion and appreciation of the employee, who feels an essential and important part of the organization.

5 0
3 years ago
________ is a tool used to visually display how consumers perceive the position of products or brands in the market on different
Alexxandr [17]

Answer: A Perceptual Map

Explanation:

A Perceptual Map also known as a product positioning map is a pictorial representation of how consumers sees a product as it relates to their competitors in the market.

6 0
4 years ago
Company Q owns controlling shares of stock in companies A, B, C, and D. This is an example of a Pool Partnership Holding Company
MaRussiya [10]

Answer:

Holding

Explanation:

When a company or a share holder owns a share which is more than 50 percent share of the company in the market, than than individual or company has a controlling shares in the company.

This gives him the right of deciding the in the meetings of the shareholders and to take control of the company's direction.

Such is an example of a Holding company. A holding company does not produce or manufacture any goods or sell anything. It is a company which owns outstanding stock of other companies and forms a group of companies.

3 0
4 years ago
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