Answer: The meaning of depletion to allocate the cost of extracting natural resources like oil and minerals from the earth.
Explanation:
- The term depletion is a concept generally we use in tax and accounting.
- The meaning of depletion is to move the cost of extracting natural resources like oil and minerals from the earth to the income sheets.
- It is a non-cash expense that lowers the cost value of an asset gradually scheduling charges to the income.
- To evaluate the depletion per unit we divide the total cost less salvage value by the total number of estimated units.
<span>These are monopoly market structures. This is where the person or company selling items does not face competition and is the only person or company selling the items with no competitor that has a close substitute. This is an imperfect kind of competition.</span>
Answer:
Insurance $4,800 (debit)
prepaid insurance $4,800 (credit)
Explanation:
In order to find out adjusting entries. firstly, we need to calculate the difference between prepaid insurance account and Insurance account.
That could be done by subtracting $3,550 from $8,350.
Difference = 8350-3550= 4800
Answer:
$227,500
Explanation:
The computation of the total amount of cash paid is shown below:
Cash paid for insurance premium = Prepaid Insurance at end of the year + Prepaid Insurance recognized - Prepaid Insurance at the beginning of the year
= $61,250 + $218,750 - $52,500
= $227,500
We simply applied the above formula so that the correct amount of cash paid could come with respect to the insurance premium
Answer:
Houghton Mifflin Company . . . 2002 . . . Robert Overholtzer
Explanation:
A well-known publisher named "Houghton Mifflin Company" published and issued a book known as 'Courage for the earth'. Since year 2oo2 the book was written and composed by the great writer of the books known as Robert Overholtzer. He use to be passionate about writing books for humankind, his thinking was to guide humankind through his books. So this is also one of the book that had been written by him.