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
AfilCa [17]
3 years ago
7

On April 17, 2021, the Loadstone Mining Company purchased the rights to a coal mine. The purchase price plus additional costs ne

cessary to prepare the mine for extraction of the coal totaled $5,640,000. The company expects to extract 940,000 tons of coal during a four-year period. During 2021, 244,000 tons were extracted and sold immediately.
Required:
1. Calculate depletion for 2021.
Business
1 answer:
Setler79 [48]3 years ago
7 0

Answer:

$1,464,000

Explanation:

The computation of the depletion expense is shown below:

Purchase price plus additional cost = $5,640,000

Extracted tons during four year period = 940,000 tons

Current year tons extracted = 244,000 tons

So,

Depletion expense = Purchase price plus additional cost ÷ extracted tons during four year period × current year tons extracted

= $5,640,000 ÷ 940,000 tons × 244,000 tons

= $1,464,000

You might be interested in
What are the various product line decision, and when do marketing managers make each of these decisions? What is the meaning of
Lana71 [14]

Answer:

They are something to do with car and lines in traffic

Explanation:

:))) Your welcome

5 0
3 years ago
Wilfred Nadeau owns 300 shares of Consolidated Glue. The​ company's board of directors recently declared a cash dividend of 45 c
dedylja [7]

Answer:

<u>a. Zero dividend.</u>

<u>b. 3.5 new shares</u>;

<em>texes will be paid.</em>

<u>Explanation:</u>

a. March 20 is a date earlier than when the dividends are too be paid on April 18, and as such Wilfred Nadeau<em> will not</em> receive any dividend if he sells his stocks since he no longer has ownership of them.

b. 45 cents dividends per 300 stocks of Wilfred is $135 (reinvestment dividend plan).

With a discount of 3.4% at $39.8 (3.4%*39.8) current price per stock makes the total cost per stock after discount= $38.4.

Dividing the reinvestment dividend plan over the discounted price (135/38.4) = 3.5 new shares, According to the requirements of law the investor must still pay tax annually on his or her dividend income, whether it is received as cash or reinvested.

8 0
3 years ago
Bob inspires his employees to follow a vision, facilitates change, and creates a strongly positive climate, all while stressing
Lady bird [3.3K]

Bob inspires his employees to follow a vision, facilitates change, and creates a strongly positive climate, all while stressing performance. Bob has helped to create a(n) caring/civilized culture.

Explanation:

  • Bob inspires his employees to follow a vision, facilitates change, and creates a strongly positive climate, all while stressing performance. Bob has helped to create a(n) caring/civilized culture.
  • Developing a caring culture
  • Be optimistic and upfront to your goals.
  • Focus on strengths, not weaknesses
  • It’s the result of deliberate executive that promotes a civilized cultural environment.
  • Developing a caring culture starts with a few initial steps that aims at building the priorities of members to establish a dream team.
4 0
3 years ago
"Which statements are TRUE about IO tranches? I When interest rates rise, the price of the tranche falls II When interest rates
horrorfan [7]

The available options are:

A. I and III

B. I and IV

C. II and III

D. II and IV

Answer:

C. II and III

Explanation:

IO tranche which is an acronym for Interest Only tranche is defined as a form of tranche which earns interest only from a secured loan which is derived from Principal Only tranche.

However, Interest Only tranche is quite different from a typical bond, simply because when market interest rate increases the rate of prepayment decreases, which in turn makes the rate of maturity to be longer. Thereby when interest rates increase, prices increase, and vice versa.

Hence the true statements are:

II When interest rates rise, the price of the tranche rises

III When interest rates fall, the price of the tranche falls

5 0
3 years ago
Time warner has different divisions for magazines, movies, recordings, cable television, and so on. the warner bros. part of the
Genrish500 [490]
<span>Since Time Warner has different divisions for different forms of media, it is a business that has multiple operating divisions. Having multiple operating divisions allows them to appeal to a greater audience, thus increasing their sales. More sales means more revenue, which is the main goal of the company.</span>
6 0
3 years ago
Other questions:
  • Swift Delivery is a small company that transports business packages between New York and Chicago. It operates a fleet of small v
    6·1 answer
  • Nancy owns a gas station in a small town. her friend chuck owns the only other station in the community. one​ day, nancy and chu
    5·1 answer
  • What are two companies that are becoming extinct from the digital disruption?
    11·1 answer
  • Which is true of lodging employers of major hotel chains? They tend to have a low turnover rate. They tend to promote employees
    12·2 answers
  • The purchase of raw materials on account in a process costing system is recorded with a:A. Debit to Purchases and credit to Cash
    8·1 answer
  • If there was a 24% chance of having a contract signed to purchase a home in any one month and there were 55 homes on the market,
    5·1 answer
  • Which organization sets monetary policy for the United States? Board of Governors Congress Federal Open Market Committee Federal
    9·2 answers
  • Flow Cruiseline offers nightly dinner cruises off the coast of​ Miami, San​ Francisco, and Seattle. Dinner cruise tickets sell f
    11·1 answer
  • Which speaker is most likely to make high-risk investments?
    8·1 answer
  • What is our planet called?
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!