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UNO [17]
4 years ago
14

Pronghorn Mining Company purchased land on February 1, 2020, at a cost of $856,800. It estimated that a total of 53,100 tons of

mineral was available for mining. After it has removed all the natural resources, the company will be required to restore the property to its previous state because of strict environmental protection laws. It estimates the fair value of this restoration obligation at $97,200. It believes it will be able to sell the property afterwards for $108,000. It incurred developmental costs of $216,000 before it was able to do any mining. In 2020, resources removed totaled 26,550 tons. The company sold 19,470 tons.
Compute the following information for 2020:
(a) Per unit mineral cost.
(b) Total material cost of December 31, 2020, inventory
(c) Total materials cost in cost of goods sold at December 31, 2020.
Business
1 answer:
vitfil [10]4 years ago
4 0

Answer:

A.20per ton

B.141,600

C.389,400

Explanation:

A.

($856,800+$97,200-$108,000+$216,000)/53,100 tons

=$1,062,000/53,100

= 20per ton

(b)

Resources removed totaled 26,550 tons

Less company sold 19,470 tons.

Balance 7,080 tons

Hence

Inventory 20*7,080

=141,600

(c)

20* 19,470 tons

=389,400

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Culver Company has a stock portfolio valued at $3,500. Its cost was $2,700. If the Fair Value Adjustment account has a debit bal
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Dr Fair Value Adjustment (Available-for-Sale) $660

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Culver Company Journal entry

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3 years ago
Are female expatriates different?.​
Paha777 [63]

Answer:

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3 years ago
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The most recent financial statements for Live Co. are shown here: Income Statement Balance Sheet Sales $14,000 Current assets $3
Sav [38]

Answer:

The sustainable growth rate is 16.52%

Explanation:

To compute the substantial growth rate, first, we have to calculate the retention ratio. The formula to compute the retention ratio is shown below:

= 1 – payout ratio

= 1 – 0.16

=0.84 or 84%

Now, we use the formula of substantial growth rate which is shown below:

= (Return on equity × retention ratio) ÷ { 1 -  (Return on equity × retention ratio)}

where,

Return on equity = (Net income ÷ total equity) × 100

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8 0
3 years ago
1. led a tax rebellion Columbus 2. commander in chief in Revolution Andrew Jackson 3. financial plan established United States e
gogolik [260]

Answer:

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1. Daniel Shays; 2. George Washington; 3. Alexander Hamilton; 4. Thomas Jefferson; 5. Columbus; 6. Francis Scott Key; 7. Andrew Jackson; 8. Lewis and Clark.

Explanation:

The American Revolution shook the entire world. The thirteen British colonies that would become the United States of America, fought and won the battle against the most powerful imperial power on the planet. In the years that followed the American victory over the British, the hopes of the masses were betrayed. Consequently, there were many popular movements and uprisings. But none had such a great impact on the psychology of the ruling class and the future structure of the US government as the Shays Rebellion of 1786-87, which some have called "The Final Battle of the American Revolution."

Considered the "Father of the Fatherland," George Washington was a celebrated general, farmer, entrepreneur and the first president of the United States.

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8 0
3 years ago
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