Answer:
A. Even after Balzania began requiring surface mine operators to pay reclamation costs, coal mines in Balzania continued to be less expensive to operate than coal mines in almost any other country.
Explanation:
What is true about the information provided in the scenario in relation to accounting for the drop in reclamation costs described is that: Even after Balzania began requiring surface mine operators to pay reclamation costs, coal mines in Balzania continued to be less expensive to operate than coal mines in almost any other country.
It was stated in the scenario that, ''Twenty years ago, Balzania put in place regulations requiring operators of surface mines to pay for the reclamation of mined-out land, <u>Yet, the average reclamation cost for a surface coal mine being reclaimed today is only four dollars per ton of coal that the mine produced, less than half what it cost to reclaim surface mines in the years immediately after the regulations took effect''</u>
<u>Hence, the cost in Balzania is lower than the costs elsewhere which implies that the products will be heaper in Balzania due to lower operating costs</u>
Answer:
a. True
Explanation:
When an asset is purchased with Cash, the entries are debit to fixed assets and credit to cash. Depreciation is not recognized until the asset has been put to use.
To determine net income, depreciation and amortization expenses are deducted as expenses from the revenue.
Hence in the determination of Cash flows from operating expenses, such non-cash items that were deducted will be added back.
Answer:
Process Costing
Explanation:
Process Costing allows so many units to be in production at the same time which are identical. The cost of each unit can be determined by calculating the average price using to total units produced.
Answer:
He has to deposit $750.46 every month into the account
Explanation:
Future value id the accumulated amount of principal and compounded interest at the end of a specific investment period.
Assuming interest is compounding every month, use following formula to calculate the amount of payment each month.
FV = PV x ( 1 + r )^n + A x ( ( 1 + r )^n - 1 ) / r
$57,000 = $10,000 x (1+0.1%)^5x12 + A x ( ( 1+0.1% )^5x12 -1 ) / 0.1%
A = { $57,000 - [ $10,000 x ( 1 + 0.001 )^60 ] } / [ ( ( 1 + 0.001 )^60 )-1 / 0.001 ]
A = ( $57,000 - $10,618.05 ) / 61.80471
A = $46,381.95 / 61.80471
A = $750.46
Answer:
The balance sheet shows the firm’s assets, liabilities, and equity at a given point in time.
Explanation:
While preparing the balance sheet, the accounting equation is to be used that means the total value of the asset is equivalent to the total value of liabilities and the total value of the equity. It shows the financial position for the given period of time.
So as per the given options, the first one is correct
