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Cerrena [4.2K]
3 years ago
6

The accumulated depletion account is a.an expense account b.reported on the income statement as other expense c.reported on the

balance sheet as a deduction from the cost of the mineral deposit d.an intangible asset account
Business
1 answer:
bonufazy [111]3 years ago
4 0

Answer:

The answer is c.reported on the balance sheet as a deduction from the cost of the mineral deposit.

Explanation:

Accumulated Depletion Account is the account showing the accumulated depletion expenses relating to the use/exploitation of natural resources since the beginning.

Just like Accumulated Depreciation Account, The Accumulated Depletion Account is a contra-asset account which is reported on the Balance Sheet under the Natural Resources Account; the net effect of the two account shows the net book value of Natural Resources Account.

Thus, c. reported on the balance sheet as a deduction from the cost of the mineral deposit. is the correct choice.

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Eastview Company uses a perpetual LIFO inventory system, and has the following purchases and sales:
Rom4ik [11]

Answer:

The value of cost of goods sold is $2,730 as shown below

Explanation:

The sale of 120 units made on January 17 is valued at $1,080  (120*$9) taking from stock purchased last on January 1

The sale of 160 units on January 29 is valued at $1,650    (150 units*$11) taking the items purchased last on January 20

The cost of goods sold =$1,080+$1,650

Cost of goods sold=$2,730

The value of closing inventory=30*$9+10*$11

                                                   =$270+$110

                                                   =$380

Hence value of costs of good sold is $2,730 while closing inventory is valued at $380

           

7 0
3 years ago
I need help with this please​
Marizza181 [45]

Answer:

thanks for asking for help

3 0
3 years ago
When there's a signal of interest by the customer to move forward with in your product, you should
Sav [38]
When there's a signal of interest by the customer to move forward with in your product, you should <span>ask them a closing question. After you have asked if they have any additional questions you are able to close your conversation with a customer with a statement or </span>question. By asking a closing question you are letting the consumer know the conversation is ending and it's time to make a committed decision regarding the product. 
3 0
3 years ago
Direct marketing refers to:_______.
Wewaii [24]

Answer:

a promotional alternative that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet.

Explanation:

Direct marketing involves communication of a product to a target customer without using advertising agents as middle men. Customers are identified and contact is made directly to generate a buying decision from them.

This method gives quick feedback and action from the customer.

Channels such as mail, text, and email can be used to contact the customer directly

5 0
4 years ago
When a firm uses the LIFO inventory cost flow assumption: ____________
o-na [289]

Answer:

Answer is D. better matching of revenue and expense is achieved than under FIFO.

Explanation:

The inventory cost flow assumption describes the flow of product cost: from the inventory and to cost of goods sold. When a firm uses the LIFO inventory cost flow assumption: better matching of revenue and expense is achieved than under FIFO.

5 0
3 years ago
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