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Over [174]
3 years ago
8

At the beginning of 2020, Beerbo acquired a mine for $970,000. Of this amount, $100,000 was ascribed to the land value (the rema

ining portion was ascribed to the mine). Surveys conducted by geologists have indicated that approximately 12,000,000 units of ore appear to be in the mine. Beerbo incurred $170,000 of development costs associated with this mine prior to any extraction of minerals. It also determined that the fair value of its obligation to prepare the land for an alternative use (when all of the minerals have been removed) is $40,000. During 2020, 2,500,000 units of ore were extracted and 2,100,000 of these units were sold. What is the amount extracted in 2020
Business
1 answer:
r-ruslan [8.4K]3 years ago
6 0

Answer:

$225,000

Explanation:

Depletion rate = [Mine cost - Land value + Obligation to prepare the land for an alternative + Development cost] / Total number of ore extracted

Depletion rate = [$970,000 - $100,000 + $40,000 + $170,000] / $12,000,000

Depletion rate = $1,080,000/$12,000,000

Depletion rate = $0.09

Amount extracted in 2020 = Unit of ore extracted in 2020 / Depletion rate

Amount extracted in 2020 = 2,500,000 units * $0.09

Amount extracted in 2020 = $225,000

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liability rules
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3 years ago
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$1,290,000

Explanation:

Given that,

Cash flow to creditors = -$85,000

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Firm reduced its net working capital investment by $45,000

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$85,000 = OCF -  $1,250,000 - (-$45,000)

OCF = $85,000 + $1,250,000 - $45,000

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3 0
3 years ago
An operations manager observes a new production process. Based on production of the first 32 ​units, the manager estimates that
Leviafan [203]

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<em>The answer is 17.01 minutes</em>

Explanation:

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2 years ago
What is a reason that a person's personal life might not fit into the traditional nine-to-five work day?
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I think the answer is 4 all of the above.
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A fixed asset with a five-year estimated useful life and no scrap value is sold at the end of the second year of its useful life
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Using straight line method over Double-declining balance method chances of loss or reduction in gain increases.  

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When we use straight line method it gives constant value that decrease the book value of plant assets while using double-declining balance method is reduce book value more aggressively in earlier years. Therefore, Book value of asset is much higher compare to double declining balance method hence, chances of loss or reduction in gain are obvious when we use the straight line method.

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