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Katen [24]
3 years ago
10

Montana Mining Co. pays $3,055,610 for an ore deposit containing 1,478,000 tons. The company installs machinery in the mine cost

ing $203,500, which will be abandoned when the ore is completely mined. Montana mines and sells 144,100 tons of ore during the year.
Business
1 answer:
hoa [83]3 years ago
5 0

Answer:

Question <em>"Prepare the year-end entries to record both the ore deposit depletion and the mining machinery depreciation. Mining machinery depreciation should be in proportion to the mine’s depletion. (Round your unit depreciation and depletion rates to 2 decimal places.)"</em>

<em />

                                 Year End Journal Entries

Date    Account Titles and Explanation            Debit       Credit

             Depletion charges (Ore deposit)      $297,912

                    Accumulated depreciation                            $297,912

             (3,055,610/1,478,000 *144,100)

              Depreciation expenses(Machinery)   $19,841

                     Accumulated depreciation                            $19,841

              (203,500/1,478,000 *144,100)

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morpeh [17]

Answer:

The answer is: B) purchase records are not maintained.

Explanation:

There are two methods for estimating inventory costs:

  1. Gross Profit Method : uses the information from the income statement. If operating conditions remain similar, the proportion between total sales, profits and COGS should be similar (lets say profit is 30% and COGS is 70% of total sales). You can estimate your inventory costs by using the information on total sales.  
  2. Retail Method: It is used mostly by merchandising firms (retailers) that have consistent mark-ups. You have to determine the proportion between cost and retail price (lets say the COGS is 80% of the retail price). Then if you are given the retail inventory, you can determine the COGS using the proportion determined previously.

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3 years ago
Government policymakers decided to reduce the rate of inflation from 3% to 1.6%. As a result, the unemployment rate increased fr
andreyandreev [35.5K]

Answer:

Government policymakers decided to reduce the rate of inflation from 3% to 1.6%. As a result, the unemployment rate increased from 4.8% to 6.2%. The sacrifice ratio is:______

d. none of the above

Explanation:

a) Data and Calculations:

Old inflation rate = 3%

New inflation rate = 1.6%

Old unemployment rate = 4.8%

New unemployment rate = 6.2%

Ratio of old inflation rate to old unemployment rate = 3 : 4.8 = 0.625

Ratio of new inflation rate to new unemployment rate = 1.6% : 6.2% = 0.258

Sacrifice ratio = Difference between the two ratios = 0.367 (0.625 - 0.258)

b) The sacrifice ratio is the difference between the old ratio and the new ratio of inflation rate to unemployment rate.

6 0
2 years ago
A. Suppose the wages of computer-factory workers rises. This will cause (the supply / the demand) of tablet computers to (shift
Mars2501 [29]

Answer:

Supply, shift in , rise fall

the demand, shift in, fall ,fall

supply , shift out fall, rise

the demand , shift out rise rise

the demand shift in fall fall

Explanation:

If the wages of factory worker increases, it becomes more expensive to hire workers, the cost of production increases and the demand for labour would fall. as a result, production would fall and the supply of tablets would fall. a decrease in supply leads to an inward shift of the supply curve. as a result of the fall in supply, quantity would fall and there would be a rise in price.

Substitute goods are goods that can be used in place of another good. If the price of notebooks falls, it becomes cheaper to purchase notebooks, so the quantity demanded of notebooks would rise and the demand for tablets would fall since it is cheaper to buy a tablet. the demand curve for tablets would shift in as a result of the fall in demand. As a result, price and quantity of tablets would fall.

Increase in the number of manufactures would lead to an increase in supply. this would cause a rise in the supply of tablets. when there is a rise in supply, the supply curve shifts out, prices fall and quantity increases.

the new game would increase demand for tablets because people would be interested in playing the game. as a result of the rise in demand, the demand curve would shift out, the quantity would rise and prices would rise

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•<br> List three examples of lighting and give the purpose for each
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Answer:

The three examples of lighting are;

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2. Task lighting

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1. General lighting

General lighting is usually meant to illuminate an entire room. It is supposed to make all corners of the room visible in it's entirety. It usually of a soft and flat nature to ensure that it looks as natural as possible. It;'s major function is to get one safely from one point to another. It's not meant for highlighting things on the space, rather the room should be viewed as one homogeneous space. A room of ambient light should give a warm feeling of relaxation especially after a stressful day. It allows the pupils to slightly dilate and also brings the mood of relaxation. Most yoga sessions usually prefer the use of ambient lighting during meditation. The following lights can be used to cause ambient light, namely; chandeliers, pendants, track, recessed and ceiling.

2. Task lighting

Task lighting usually covers a smaller area to illuminate that particular portion of the room. It is a much narrower and more concentrated type of light. Sometimes referred to as office lighting, this type of lighting works well one trying to concentrate on a specific task. They are majorly used when conducting activities that require a lot of attention that requires one to see more clearly.  The tasks can include; sewing, reading, cooking and writing. The task lighting is always effective when it is brighter than the general lighting in a room. When the lighting in the room is brighter than the task lighting, it causes a shadowy effect that affects visibility. Task lighting improves alertness by stimulating your brain to be more active and notice even finer details of your work. The following fixtures can assist in creating task lighting, namely; swing arm lamps, pendants, under cabinet and vanity.

3. Accent lighting

Accent lighting is a special type of concentrate light that serves two purposes. Accent lighting serves to illuminate specific objects or points in a room that are interesting while trying to shadow the dull parts of the same room. Accent lighting adds more flavor and drama to specific objects in a room and is mostly used on objects such as; art work, pieces of furniture, decorative book display and wall decorations. Accent lighting brings a mood of importance and sophistication towards the objects being highlighted. It is majorly used in museums, art shows and buildings with historical meaning. To create accent lighting, the following lights are recommended; Recessed, Wall lights, Landscape and Track.

7 0
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Ruth executes a will in 2012 naming her nephew stan as sole beneficiary. in 2014, ruth executes another will, naming her niece t
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Stan and Tammy will share the estate in equal shares. You are able to have as many beneficiaries as you name, due to this and no change in the first will, both will be heirs to the estate. If Ruth were to have revoked the first will, then it would have left Tammy the sole beneficiary.

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