Answer:
$11,880,000
Explanation:
Depletion is an estimated cost of a natural resource that is extracted. This resource is expensed as the extraction is made.
As per given data
Value of Rights = $60,000,000
Land Value = $600,000
As we know land does not depreciate or depleted.
Depletion Value = $60,000,000 - $600,000 = 59,400,000
Estimated resources = 9 million units
Resources extracted in the period = 1.8 million units
Depletion expense is based on ratio of the amount of extraction in period to the total expected resource.
Depletion Expenses = $59,400,000 x 1.8 million units / 9 million units = $11,880,000
<u>Given:</u>
Total assets before journalizing and posting the adjusting = $128,800
Expired insurance = $800
Expired rent = $2,400
Depreciation = $900
<u>To find:</u>
Total assets after journalizing and posting the adjusting
<u>Solution:</u>
To determine the value of the total assets after journalizing and posting the adjustment, we have to subtract all the given values i.e, the expired rent, expired insurance and the depreciation values from the total assets before journalizing and posting the adjusting.
The calculation is as follows,
Total assets after journalizing and posting the adjusting
Therefore, the required value of the total assets after journalizing and posting the adjusting is $124,700.
Answer:
d. One defect of the IRR method versus the NPV is that the IRR does not take proper account of differences in the sizes of projects.
CORRECT As the project yields over time can differ. This generates that projects with a lower IRR can achieve a higher NPV at lower rates.
There is a crossover point after which a projects NPV are equal and from there the one with higher IRR obtains better NPV
Explanation:
a. One defect of the IRR method versus the NPV is that the IRR does not take account of the time value of money.
FALSE both method consider time value of money
b. One defect of the IRR method versus the NPV is that the IRR does not take account of the cost of capital
FALSE The IRR can be compared against the cost of capital to indicate wether or not a project should be preferable
.c. One defect of the IRR method versus the NPV is that the IRR values a dollar received today the same as a dollar that will not be received until sometime in the future.
FALSE IRR considers the time value of money
e. One defect of the IRR method versus the NPV is that the IRR does not take account of cash flows over a project's full life.
FALSE it considers all the cash flows over the project's full life.
'After a bank reconciliation is completed, journal entries are prepared for items in the balance per the company's records as well as items in the balance per bank statement.
This statement is False.
In accounting, bank reconciliation is the process of reconciling the bank account balances on a company's books with the balances reported by financial institutions in their most recent bank statements. You should check the difference between the two numbers and correct if necessary.
Bank reconciliation is the process of reconciling cash book data with corresponding data on bank statements. This is an important process for the CFO's office and ensures the accuracy of the accounting records.
Bank reconciliation is an important internal control tool and is necessary to prevent and detect fraud. It also helps identify accounting and banking errors by explaining the difference between cash balances on accounting records and bank balances on bank statements.
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The answer may be 5 but roynd to the nest 10
