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OLEGan [10]
3 years ago
7

In April 2013, Sparkle Enterprises purchased the Crimson Mine at a cost of $18,000,000. The mine is estimated to contain 500,000

tons of ore with a residual value of $2,000,000 after mining operations are completed. During 2013, 120,000 tons of ore were removed from the mine and sold. In this situation:
a. The book value of the mine is $16,000,000 at the end of 2013.
b. The amount of depletion deducted from revenue during 2013 is $3,840,000.
c. The amount of depletion deducted from revenue during 2013 is $2,000,000.
d. The mine is classified as an intangible asset with in indefinite life and is not amortized.
Business
1 answer:
DaniilM [7]3 years ago
6 0

Answer:

The correct answer is B.

Explanation:

Giving the following information:

In April 2013, Sparkle Enterprises purchased the Crimson Mine for $18,000,000. The mine is estimated to contain 500,000 tons of ore with a residual value of $2,000,000 after mining operations are completed. During 2013, 120,000 tons of ore were removed from the mine and sold.

Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Annual depreciation= (16,000,000/500,000)*120,000= $3,840,000

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Harold works as a new business manager for a manufacturer of marine lubricants. He often talks to several different people befor
brilliants [131]

Answer:

Decider.

Explanation:

Harold being a new business manager for a manufacturer of marine lubricants. Most times, he has to talk to several different people before he's able to find someone who can give him a purchase order or a refusal.

Hence, in terms of the buying center, he has the most trouble identifying the decider for his services.

In Business management, the buying center comprises of a group of people or department within a specific organization that make business purchase decisions. These group of people are found in different parts of the organization, such as accounting, finance, procurement, and senior management. The buying center is made up of five (5) key groups, these are the buyers, gatekeepers, users, influencers, and deciders.

The decider in a buying center are generally responsible for choosing the right products to be purchased and have the final say (decision) with regards to a purchase order or a refusal.

4 0
2 years ago
Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets
stich3 [128]

Answer:

The correct answer is $33,880.

Explanation:

According to the scenario, the given data are as follows:

Direct labor = $5.60 per unit

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So, we can calculate the direct labor in planning budget by using following formula:

Direct labor in planning budget = Actual level of Activity × Direct labor

By putting the value, we get

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Hence, The direct labor in the planning budget for May would be closest to $33,880.

3 0
2 years ago
Andrew owns land (adjusted basis of $94,400) that he uses in his business. He exchanges the land and $47,200 in cash for a diffe
Inga [223]

Answer:

Andrew did do a proper feasibility study about the land

Explanation: Andrew lots chunk of money  because he gave out his land half of the price he bought it initially. And bought another at a higher price

which is more than the  10,000 dollars

7 0
3 years ago
Kendall Corners Inc. recently reported net income of $3.1 million and depreciation of $500,000. What was its net cash flow?
podryga [215]

Answer:

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Explanation:

Net cashflow equals net income plus depreciation.

3 0
2 years ago
According to the most recent data available, there are approximately ____ noncustodial mothers in the united states.
kodGreya [7K]
<span>According to the most recent data available, there are approximately two million noncustodial mothers in the united states.
</span>

<span>A custodial parent is the term for a parent who has lawful and physical guardianship of their kid. There are around 13.7 million single guardians in the United States. Of these single parents, 84% of custodial guardians are moms and 16% are fathers. A non-custodial parent does not have legitimate or physical guardianship of their kids, which is typically chosen by a court. Half of non-custodial moms are thoroughly default on help, which implies they struggle or can't pay for the help their families need.</span>

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3 years ago
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