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
OLEGan [10]
3 years ago
9

Crane Company acquired a tract of land containing an extractable natural resource. Crane is required by its purchase contract to

restore the land to a condition suitable for recreational use after it has extracted the natural resource. Geological surveys estimate that the recoverable reserves will be 2420000 tons, and that the land will have a value of $940000 after restoration. Relevant cost information follows: Land $7440000 Estimated restoration costs 1440000 If Crane maintains no inventories of extracted material, what should be the charge to depletion expense per ton of extracted material
Business
1 answer:
Fittoniya [83]3 years ago
7 0

Answer:

$3.28 per ton

Explanation:

Total value = Land + Estimated restoration costs

                  = $7,440,000 + 1,440,000

                  = $8,880,000

Value for depletion = Total value - Salvage value

                                 = $8,880,000 - $940,000

                                 = $7,940,000

Per ton Depletion:

= Value for depletion ÷ Recoverable reserves

= $7,940,000 ÷ 2,420,000 tons

= $3.28 per ton

You might be interested in
Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI deci
gladu [14]

Answer:

combined target market approach

Explanation:

When a company engages in a combined target market approach, it segregates potential markets into pairs or small groups which share similarities and then offers their products or services to them. The marketing mix will be similar for all the small segments that are within the larger group.

6 0
3 years ago
A company has earned a large profit this year. The company’s president wants to reward certain employees for their exceptional p
Svet_ta [14]

Answer:

E.  Offer profit sharing

Explanation:

A reward should be related to the underlying cause. The best way to reward them will be to share some of the profits with them. The company can do that by offering them a cash bonus. The bonus will serve as a motivation for them and other employees as well.

A cash reward strategy will be best as it will be a perfect match with the company's achievements. The employees have made money for the company; it is only fair they get cash a reward.  Employees work to earn money, not certificates or work breaks. A monetary reward will be the most ideal as its the consideration employees seek every morning they report for duty.

5 0
3 years ago
Does 3d rendering boost the sales ?
Ghella [55]

Answer:

Yes

Explanation:

Because

8 0
3 years ago
Which of the following must be included in Pete’s income? 1. Short-term capital gains of $10,000 from the sale of stock. 2. Long
devlian [24]

Answer:

1. Short-term capital gains of $10,000 from the sale of stock.

2. Long-term capital gains of $80,000 from the sale of real property and

3. Interest income from Pete’s savings account.

Explanation:

An income statements shows revenue, expenses and net income over a specified period of time. Revenue (gross revenue or sales revenue) consists of cash inflows and interests both short term and long term such as profits, interest on investments. Expenses consist of cash outflows, using-up of assets and incurred liabilities such as tax, rents and so on. Gifts are not included as part of income statements

7 0
3 years ago
Read 2 more answers
For the past year, Momsen, Ltd., had sales of $45,797, interest expense of $3,620, cost of goods sold of $16,134, selling and ad
guapka [62]

Answer:

Net income is $5,578.30

Explanation:

Please refer to the attached file

5 0
3 years ago
Read 2 more answers
Other questions:
  • The XYZ Company has just hired you as Production Manager of their North American Fabrication Facility. Your first job is to use
    5·1 answer
  • A. Everyone benefits from street lighting, yet the marginal benefit to any one individual usually falls short of the marginal co
    6·1 answer
  • Abc toys, a u.s.-based toy manufacturer, has set up a manufacturing plant in hong kong. this is an example of
    15·1 answer
  • The balance sheet of Indian River Electronics Corporation as of December 31, 2017, included 12.25% bonds having a face amount of
    7·1 answer
  • David Company uses the gross method to record sales made on credit. On June 10, 2017, it sold goods worth $250,000 with terms 2/
    7·1 answer
  • How has globalization made countries more independent
    14·2 answers
  • When a financial institution makes a real estate loan to a home buyer, the transaction takes place: - When the buyer proves his
    15·1 answer
  • Perez Boat Company makes inexpensive aluminum fishing boats. Production is seasonal, with considerable activity occurring in the
    9·1 answer
  • 1.2 Assume that there are 600 customers in your target area. The average income per annum per customer amount to R12500. You est
    7·1 answer
  • Which of the following is the most
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!