Answer:
The computations are shown below:
Explanation:
(a) Depletion cost per unit
Depletion cost per unit
= $717,963 ÷ 806,700 tons
= $0.89 per ton
(b) The Journal entry to record depletion expense is
Depletion Expense A/c Dr $ 92,293
(103,700 tons × $0.89)
To To Accumulated Depletion A/c $ 92,293
(Being the depletion expense is recorded)
(c) The cost applicable is
= 16,700 unsold units × $0.89
= $14,863
Answer:
$3,063,750
Explanation:
A 180 day $3,000,000 CD
Annual rate = 4.25%
Collection in 180 days = ?
$3,000,000 * 4.25% * 180/360
= $3,000,000 * 0.02125
= $63,750
Total amount to collect after 180 days = $3,000,000 + $63,750
Total amount to collect after 180 days = $3,063,750
Answer:
B. False.
Explanation:
Helen instructed Joseph during his active working hour does not matter if he is on his lunch break or not, so Joseph is entitled to workers compensation.
The four types of pricing methods.
Answer:
c. $4,000
Explanation:
The computation of the depreciation expense for year 2 under straight-line method is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($25,000 - $5,000) ÷ (5 years)
= ($20,000) ÷ (5 years)
= $4,000
In this method, the depreciation is same for all the remaining useful life i.e $4,000 is charged for remaining three years
