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never [62]
3 years ago
6

Early in the current year, Tokay Co. purchased the Silverton Mine at a cost of $21,220,000. The mine was estimated to contain 21

0,000 tons of ore and to have a residual value of $4,000,000 after mining operations are completed. During the year, 195,000 tons of ore were removed from the mine. At year-end, the book value of the mine (cost minus accumulated depletion) is:
Business
1 answer:
algol [13]3 years ago
4 0

Answer:

=$5,230,000

Explanation:

Annual Depreciation=Depreciable Value×Units produced during the year estimated total production

The units of the depreciation method start by calculating the depreciable amount.

Depreciable  amount = Assets cost - salvage value

=$21,220,000.-$4,000,000

=$17,220,000

depreciation expense per unit=  depreciable amount/production capacity

=$17,220,000/210,000 per tone

=$82 per tone

During the year, 195,000 were extracted.

The depreciation value for the year will be

= 82 x 195,000

=$15,990,000

book value will be asset cost minus depreciation expense

=$21,220,000 -$15,990,000

=$5,230,000

.

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Answer:

b. minimum prices are enforced

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The manufacturer of certain products deals with their distributors by exploiting the market failures to negotiate ceiling and minimum prices with the threat of not purchase if the agreement is not validated.

This is done to prevent competition between reseller for the price. This makes the reseller profitable and therefore, the manufactured as well.

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Michael Bilkman has an opportunity to buy a perpetuity that pays $12,450 annually. His required rate of return on this investmen
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$266,667.

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The act or acts that provides the steps for the Notice-and-Takedown procedures is ____.
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Choose the letter of the item that best completes the statement or answers the question. Last year Jackson earned $500,000, Vele
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1. According to their states’ tax laws, which require each one to pay a tax of $500 despite their different earnings, the best description of the tax is <u>(c) regressive</u>.

<h3>What is a regressive tax system?</h3>

A regressive tax system is one where taxpayers pay a disproportionate share of the tax burden, given their earning levels.

A regressive tax system is not proportional or progressive.

2. An example of an excise tax is (b) tax on perfume.

3. The amount Rose Chin paid for the purchase of school supplies based on the state sales tax of 5% is <u>a) $12.60</u> ($12 x 1.05).

4. An example of a property tax is a) a tax based on the value of one's home.

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6. An example of a tax based on the benefits-received principle is (a) bridge toll.

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8. For the apartment tenants, the tax is <u>d) a sales tax</u>.

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10. An example of a protective tariff is (d) tax on the importation of foreign-made cars.

Thus, while income tax is mostly progressive in the United States, sales taxes are proportional, while some taxes are regressive because the amount paid is fixed and does not depend on the ability-to-pay principle.

Learn more about tax systems at brainly.com/question/12890967

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