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stellarik [79]
3 years ago
14

A company purchased land for its natural resources at a cost $1,500,000. It expects to mine 2,000,000 tons of one from this land

. The residual value of the land is estimated to be $250,000 what is the amount of depletion per ton of one?
a. $0.75
b. $0.875
c. $1.14
d. $0.625
Business
1 answer:
masha68 [24]3 years ago
8 0

Answer:

Depletion= $0.625

Explanation:

Giving the following information:

Purchase land= $1,500,000.

It expects to mine 2,000,000 tons of one from this land.

The residual value of the land is estimated to be $250,000.

<u>To calculate the depletion per ton, we need to use the following formula:</u>

Depletion= [(purchase cost - salvage value)/useful life of production

Depletion= (1,500,000 - 250,000) / 2,000,000

Depletion= $0.625

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State 5 advantage and 5 disadvantages of trade unions.
Nady [450]

Answer:

5 advantages/ higher wages, better benefits, your representatives, fair pay, better environment

Explanation:

5 disadvantages/ high labor cost, law suits, abritrations, and members can legally strike

3 0
3 years ago
James Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two department
GREYUIT [131]

Answer:

Total cost= $9395

Explanation:

Giving the following information:

The company has two departments: Assembly and Sanding.

The Assembly Department:

Departmental overhead rate of $35 per machine hour.

The Sanding Department:

Departmental overhead rate of $20 per direct labor hour.

Job 603:

Direct labor hours used 85

Machine hours used 107

The cost of direct labor is $30 per hour

Direct materials used= $1,400.

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Total cost= 1400 + 2550 + 5445

Total cost= $9395

6 0
3 years ago
The WeKnowThisStuff Company issued a $1,000 par value, 6% coupon, 8 year bond. The interest is paid semiannually and the market
Stella [2.4K]

Answer:

$1,032.01

Explanation:

Given:

Face value of bond (FV) = $1,000

Coupon rate = 6% annual rate or 6% / 2 = 3% semi-annual rate

Coupon payment (pmt) = 0.03 × $1,000

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Rate = 5.5% annually or 5.5 / 2 = 2.75%

Time period (nper) = 8 × 2 = 16 periods

Current value of bond is present value of bond which can be computed using spreadsheet function =PV(rate,nper,pmt,FV)

So, present value of bond is $1,032.01.

PV is negative as it's cash outflow.

8 0
3 years ago
State and city governments have promoted facilities where new businesses can open up shop and share common services such as secr
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Answer:

Incubators

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Basically in the given context, the space for new shops for businesses is given by state and city government, this clearly states that because of involvement of government the prices of such place would be really low as compare to private rental spaces.

This provides that because of this facility incubators will grow.

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How would the issuance of common stock for cash affect the accounting​ equation?
shepuryov [24]

Answer:

Explanation:

The journal entry to record the given transaction is shown below:

Cash A/c Dr XXXXX

    To Common stock A/c XXXXX

(Being the issuance of the common stock is recorded)

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Total Assets = Total liabilities + Stockholder equity

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Therefore, the cash account and the common stock is increased.

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3 years ago
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