What is it called when you let someone walk all over you?

The accumulated depletion account is a.an expense account b.reported on the income statement as other expense c.reported on the

bonufazy [111]

Answer:

The answer is c.reported on the balance sheet as a deduction from the cost of the mineral deposit.

Explanation:

Accumulated Depletion Account is the account showing the accumulated depletion expenses relating to the use/exploitation of natural resources since the beginning.

Just like Accumulated Depreciation Account, The Accumulated Depletion Account is a contra-asset account which is reported on the Balance Sheet under the Natural Resources Account; the net effect of the two account shows the net book value of Natural Resources Account.

Thus, c. reported on the balance sheet as a deduction from the cost of the mineral deposit. is the correct choice.

4 0

3 years ago

Pronghorn Corporation purchased machinery on January 1, 2022, at a cost of $276,000. The estimated useful life of the machinery

vfiekz [6]

Answer and Explanation:

The depreciation schedule is as follows:

For straight-line method

Year Depreciable Depreciation Depreciation Accumul Book value

cost rate Expense Depre

2022 $243,400 25% $60,850 $60,850 $215,150

($276,000 - $32,600) (1 ÷ 4) ($276,000 - $60,850)

2023 $243,400 25% $60,850 $121,700 $154,300

2024 $243,400 25% $60,850 $182,550 $93,450

2025 $243,400 25% $60,850 $243,400 $32,600

$243,400

For double declining method

Year Depreciable Depreciation Depreciation Accumul Book value

cost rate Expense Depre

2022 $276,000 50% $138,000 $138,000 $138,000

(1 ÷ 4 × 2)

2022 $138,000 50% $69,000 $207,000 $69,000

2023 $69,000 50% $34,500 $241,500 $34,500

2024 $34,500 $1,900 $243,400 $32,600

$243,400

3 0

2 years ago

If you put $2,620 in a savings account and make no further deposits, what type of calculation would provide you with the value o

riadik2000 [5.3K]

Answer:

future value of a lump sum:

$Nominal(1+r)^n = FV\\2,620(1+r)^{28} = FV$

Explanation:

when there is only a single deposits the formula will be the compounding interest future value of a lump sum

The deposits will generate incoem at a given rate r which, will make it increase their value over the course of time.

3 0

3 years ago

Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash disbursements (excluding c

WINSTONCH [101]

Answer:

Kayak Co.

Cash Budget

January February March

Cash inflows: $525,000 $400,000 $450,000

Cash outflows: ($475,000) ($350,000) ($525,000)

Monthly cash flow: $50,000 $50,000 ($75,000)

Monthly interests: ($600) ($106) $0

Initial cash balance: $30,000 $30,000 $69,294

Ending cash balance: $79,400 $79,894 ($5,706)

Required bank loan: $0 $0 $35,706

Payment of bank loan: ($49,400) ($10,600) $0

Total $30,000 $69,294 $30,000

Explanation:

Cash Receipts Cash Disbursements

January $525,000 $475,000

February $400,000 $350,000

March $450,000 $525,000

A cash budget is the estimation of the business's future cash flows including estimated revenues and expenses.

6 0

3 years ago

An elected official is: A: appointed to his job. B: voted into her job. C: assigned a job by a superior. D: anyone who works for

Natalka [10]

Voted into her job.

6 0

3 years ago