The part of staffing that involves seeking out and attracting qualified potential job

Montana Mining Co. pays $3,721,000 for an ore deposit containing 1,525,000 tons. The company installs machinery in the mine cost

Paraphin [41]

Answer:

Ore deposit depletion and Mining machinery depreciation Journal entries

Dr Depletion charge (Ore deposits) 405,528

Cr Accumulated depreciation 405,528

Dr Depletion charge (Ore deposits) 23,268

Cr Accumulated depreciation 23,268

Explanation:

Preparation of the year-end entries to record both the ore deposit depletion and the mining machinery depreciation of Montana Mining Co

Depletion of natural resources can be defined as the way in which the cost of natural resources is apportioned upto the period when it will be utilized which is why they are shown at cost in balance sheet.

The entry is to record depreciation charged on ore deposit depletion. Therefore To record this entry we have to debit depletion charges, and credit accumulated depreciation

Dr Depletion charge (Ore deposits) 405,528

Cr Accumulated depreciation 405,528

Computation of depletion cost per unit:

The depletion cost per unit can be calculated by dividing the net cost of the ore with the total units of capacity :

Depletion/units = Cost - Salvage/ Total unit of capacity

$3,721,000/1,525,000 tons

=$2.44

Hence, depletion per unit is $2.44.

Computation depletion amount on ore deposit:

The depletion amount on ore deposit can be calculated by multiplying the cost per depletion unit with the number of units utilized:

Depletion =Cost/Unit ×Units Utilized

$2.44×166,200 tones

=$405,528

Hence, depletion expenses on ore deposit amounts to $405,528.

The pass entry to record depreciation charged on mining machine :

Dr Depletion charge (Ore deposits) 23,268

Cr Accumulated depreciation 23,268

Computation of depreciation cost per unit:

The depletion cost per unit can be calculated by dividing the net cost of the ore with the total units of capacity :

Depletion/units = Cost - Salvage/ Total unit of capacity

$213,500/1,525,000 tons

=$0.14

Hence, depreciation per unit is $0.14.

Computation of depreciation amount on ore deposit:

The depletion amount on ore deposit can be calculated by multiplying the cost per depletion unit with the number of units utilized:

Depletion =Cost/Unit ×Units Utilized

$0.14×166,200 tones

=$23,268

Therefore the depreciation expenses on ore deposit amounts to $23,268

4 0

3 years ago

The government of Concordia adopted expansionary fiscal policies in the last two years with the aim of increasing employment. H

yulyashka [42]

Answer:

The correct answer is letter "E": The government implemented a generous welfare plan 3 years ago to support people who cannot find work.

Explanation:

According to the excerpt, a government implemented fiscal policies to increase employment for the past two years but the rate has not risen since then. One of the reasons for such a situation could be generous welfare support implemented one year before the fiscal policy measures started.

If the benefits for the unemployed increase they will be discouraged to return to the labor force. It implies the government should keep the welfare benefits at a level from where unemployed individuals can cover basic needs only but encourage them to find a job to be productive for the economy.

6 0

3 years ago

To handle products in the decline stage of the product life cycle, companies often use either a ________ strategy or a ________

quester [9]

To handle products in the decline stage of the product life cycle, companies often use either a divesting strategy or a harvesting strategy.

The rate of decline is governed by means of two factors: the charge of alternate customer tastes and the fee at which new products are input into the market. Sony VCRs is an instance of a product within the decline degree. The call for VCRs has now been surpassed through the demand for DVDs and online streaming of content material.

Decline techniques are also known as protective techniques and are pursued when a business enterprise finds itself in an inclined position as a result of negative management, inefficiency, and ineffectiveness.

Learn more about the business here: brainly.com/question/24448358

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5 0

1 year ago

Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer differentiated product

LenaWriter [7]

Answer:

B) False

Explanation:

The correct phrase should be:

Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer standardized products, while oligopolists producing consumer goods usually offer differentiated products.

An example of an oligopolistic industry that we all know about is the car industry. There are very few car companies in the world since only very large companies can actually manufacture cars. Car companies offer differentiated products.

8 0

3 years ago

Total (10 marks) QUESTION TWO Amani Ltd. Manufacturers a single product. Currently, the company has eight employees who produce

rewona [7]

Since the unsigned is 3000 it’s

5 0

1 year ago