Consider the following

Depletion glacier mining co. acquired mineral rights for $494,000,000. the mineral deposit is estimated at 475,000,000 tons. dur

Snezhnost [94]

Answer:

a.

1.04 per ton

b.

$32,760,000

c.

Dr. Depletion Expense $32,760,000

Cr. Accumulated Depletion $32,760,000

Explanation:

Depletion is an estimated cost of a natural resource that is extracted. This resource is expensed as the extraction is made.

As per given data

Value of Rights = $494,000,000

Estimated resources = 475,000,000 tons

Resources extracted in the period = 31,500,000 tons

Depletion expense is based on ratio of the amount of extraction in period to the total expected resource.

a.

Depletion Rate = $494,000,000 / 475,000,000 tons = $1.04 per ton

b.

Depletion Expenses = $1.04 x 31,500,000 tons = $32,760,000

c.

Depletion Expense is recorded by the debit entry because the expenses has the debit nature and accumulated depletion is credited because it is an contra asset account which have credit nature.

8 0

2 years ago

The money spent on domestically produced final goods and services: Group of answer choices is equal to exports minus imports. is

Ad libitum [116K]

Answer:

Explanation:

The money spent on domestically produced final goods and services: is equal to GDP.

<u>Gross domestic product, or GDP, is the total value of all final goods and services produced in the economy during a given year. </u>

GDP is used as a measure of the size of an economy and can also be used to compare the economic performance in other countries.

3 0

2 years ago

In business, which of the following tones should be part of every written communications? a. Funny b.Vague c.Sarcastic d.polite

dlinn [17]

Answer:

Polite

Explanation:

8 0

2 years ago

A monopolist produces a. more than the socially efficient quantity of output but at a higher price than in a competitive market.

irina [24]

Answer:

B

Explanation:

First, a monopoly produce less than the socially efficient quantity because as the figure shows, the quantity produced is determined by the intersection between the marginal cost curve (MC) and the marginal revenue curve (MR) and not by the intersection between the MC and the demand. For instance, there is a deadweight loss (shown by the figure).

Second, equilibrium price is always higher than in a competitive market because is always higher than the MC. The price is determined by the equilibrium quantity (found before) and the demand. Also, there are barries to entry and so monopolist have always price control.

4 0

3 years ago

The marketing department at your company has promised your customers that the next software release will show a 1.66-fold perfor

timurjin [86]

Answer

The answer and procedures of the exercise are attached in the images below.

Explanation

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 2 sheets with the formulas indications.

4 0

2 years ago