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mestny [16]
3 years ago
6

Alpha Mining Company recognizes $2 of depletion for each ton of ore mined. During 2016, 850,000 tons of ore were mined and 725,0

00 tons were sold. Using this information, how much should be recorded for FY 2016 for the following accounts:
1.accumulated Depletion
2.inventory
3.cost of Goods Sold
Business
1 answer:
jonny [76]3 years ago
3 0

Answer:

1. $1,700,000

2. $250,000

3. $1,450,000

Explanation:

Given that,

Depletion for each ton of ore mined = $2

Ore mined during 2016 = 850,000 tons

Ore sold during 2016 = 725,000 tons

1. Accumulated depletion:

= Ore mined during 2016 × Depletion for each ton of ore mined

= 850,000 tons × $2

= $1,700,000

2. Inventory:

= (Ore mined during 2016 - Ore sold during 2016) × Depletion for each ton of ore mined

= (850,000 tons - 725,000 tons) × $2

= 125,000 tons × $2

= $250,000

3. Cost of goods sold:

= Ore sold during 2016 × Depletion for each ton of ore mined

= 725,000 tons × $2

= $1,450,000

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Do you think the price elasticity of demand for Ford sport-utility vehicles (SUVs) will increase, decrease or remain the
olga nikolaevna [1]

a. When other car manufacturers begin to make SUVs, the price elasticity of demand for Ford's SUV will increase. This is because the options consumers have has also increased.

b. When import is banned, the price elasticity of demand for Ford's SUVs will decrease. This is because there are less substitutes for  Ford's SUVs. Consumers would now have limited choices.

c. As a result of the ad campaigns,  the price elasticity of demand for Ford's SUVs will decrease. This is because other cars would be considered to be les safe when compared with the Ford SUVs.

d. Overtime, the price elasticity for Ford Cars will increase as there would be more substitutes

Price elasticity of demand measures how quantity demanded responds to changes in the price of a good

<em>Types of price elasticity </em>

  1. Elastic demand : this means that quantity demanded is sensitive to changes in price. Coefficient of elasticity is greater than 1
  2. Inelastic demand : this means that quantity demanded does not respond much to change in price.  Coefficient of elasticity is less than 1

To learn more about demand elasticity, please check: brainly.com/question/13565779?referrer=searchResults

8 0
2 years ago
Granite Stone Creamery sold ice cream equipment for $17,600. Granite Stone originally purchased the equipment for $94,000, and d
Natali5045456 [20]

Answer:loss on the sale of the equipment =$3,400

Explanation:

---We first compute the book value of the equipment

 Cost of asset=$94,000

accumulated depreciation = $73,000

Book Value of assets =  Cost of asset-accumulated depreciation

= $94,000 - $73,000= $21,000

---Gain or Loss on the asset

Sale value of equipment = $17,600

Book value of equpment= $21,000

loss on sale of equipment  = Sale value of equipment-Book value of equipment=$17,600-  $21,000= -$3,400

6 0
3 years ago
Which parts of the economy grew during the 1990s and which declined?
anzhelika [568]
It was said that technological products begin to rise dramatically during the early 1990's. Such goods are personal computers, cell phones, and the World Wide Web. These could be highly attributed to President Bill Clinton's policies. On the other hand, the sector of agriculture slightly declines since it was less emphasized in the administration's economic policy.
7 0
3 years ago
Sue and Andrew form SA general partnership. Each person receives an equal interest in the newly created partnership. Sue contrib
zloy xaker [14]

Answer:

$0

Explanation:

Given that

Sue contributed amount = $18,000

FMV of land = $63,000

Basis in land = $28,000

Andrew contributed amount = $20,000

FMV of Building = $41,000

Basis in equipment = $16,000

Basis in building = $28,000

Based on the above information, the gain that would be recognized is $0 as Partnerships recognize no gain on receiving contributed valued property. At the disposal of the asset, the constructed-in benefit or constructed-in loss will be revealed. For this, the partnership basis property i.e being acquired should be based on a carryover basis.

7 0
3 years ago
A new security system has a price-tag of $7,500, but should save your company $3,275 each year for the next 10 years in reduced
goldenfox [79]

The IRR of the security system is 42.40.

An example of security is while you are at domestic with the doorways locked and also you feel secure. An employer or department whose venture is safety or safety, esp. A non-public police pressure is employed to patrol or protect a construction, park, or another vicinity. if you see an interloper, name safety.

Securities are fungible and tradable monetary gadgets used to elevate capital in public and personal markets. There are typically three kinds of securities: fairness—which presents possession rights to holders; debt—basically loans repaid with periodic payments; and hybrids—which combine elements of debt and fairness.

Security trouble is any unmitigated risk or vulnerability in your device that hackers can use to do damage to structures or statistics. This includes vulnerabilities inside the servers and software connecting your business to customers, as well as your enterprise strategies and those.

Using TVM Calculation,

Present Value of savings = [FV = 0, PMT = 3,375, N = 10 , I = 7,500]

PV = 3375

PI = 33750/7,500

PI = 4.50

Time Cashflows

0        -$7,500.00

1         $3,275.00

2         $3,275.00

3         $3,275.00

4         $3,275.00

5         $3,275.00

6         $3,275.00

7         $3,275.00

8         $3,275.00

9        $3,275.00

10        $3,275.00

IRR        42.39%

Learn more about security here brainly.com/question/7449721

#SPJ4

8 0
1 year ago
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