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RoseWind [281]
3 years ago
10

During 2020, Concord Corporation acquired a mineral mine for $3700000 of which $395000 was ascribed to land value after the mine

ral has been removed. Geological surveys have indicated that 10 million units of the mineral could be extracted. During 2020, 1520000 units were extracted and 1300000 units were sold. What is the amount of depletion expense for 2020
Business
1 answer:
Ivanshal [37]3 years ago
6 0

Answer:

$429,650

Explanation:

Cost of Mineral Mine             $3,700,000

Less: Ascribed Land Value   <u>$395,000</u>

Depletionable Value             <u>$3,305,000</u>

No of units can be extracted from Mine = 10,000,000 units

No of units Sold = 1,300,000 units

Depletion Value = $3,305,000/10,000,000 * 1,300,000

Depletion Value = $429,650

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An equivalent unit is calculated by: Multiple Choice dividing the number of physical units by the percentage of completion. divi
madreJ [45]

Answer:

multiplying the number of physical units by the percentage of completion.

Explanation:

Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service. Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.

The fundamentals of Project Management includes;

1. Project initiation

2. Project planning

3. Project execution

4. Monitoring and controlling of the project

5. Adapting and closure of project.

It is very important and essential that project managers in various organizations, businesses and professions adopt the aforementioned fundamentals in order to successfully achieve their aim, objectives and goals set for a project.

An equivalent unit is calculated by multiplying the number of physical units by the percentage of completion.

3 0
3 years ago
Sometimes employees have different opinions about how things should be done, or simply have a personality conflict, and then Can
cestrela7 [59]

Answer:

Disturbance Handler

Decisional

Explanation:

Sometimes employees have different opinions about how things should be done, or simply have a personality conflict, and then Candace fulfills the disturbance handler role of management, resolving the dispute. This is part of the decisional component

6 0
3 years ago
In may, the price of a pair of jeans was 250% of its wholesale cost. in june, the price was reduced by 25%. after an additional
Lorico [155]
We have to go backwards:
After the discount in July ( 50 % ), the cost of jeans is $25.50
So the price before this discount was 2 * $22.50 = $45
In June, the price was reduced by 25%.
45 ------------------75%
x --------------------100 %
45 : x = 75 : 100
45 * 100 = 75 x
4,500 = 75 x
x = 4,500 : 75
x = $60
Finally, in May the price was 250% of its wholesale cost.
60 ----------------- 250%
x -------------------100 %
60 : x = 250 : 100
6,000 = 250x
x = 6,000 : 250
x = $24
Answer: The cost of the jeans in the wholesale was $24.

4 0
3 years ago
Read 2 more answers
At December 31, 2017 (the end of the fiscal year), Grouper Corporation owes $1,720,000 on a note payable due January 31, 2018. I
zubka84 [21]

Answer:

Nil or $0

Explanation:

The entire amount of $1,720,000 should be reported as long term liability, as the both the criteria of intent and ability are met. The second note (long term note) was issued to repay the first one. It is presumed the firm did not have enough current assets to pay the first note and that the second note is made before the issue of the balance sheet. So, the amount to be reported as current liability is "nil".

5 0
3 years ago
Assuming that a marketing research study will answer important questions and reduce uncertainty associated with the proposed pro
Monica [59]

Answer:

D. How will the questions be defined?

Explanation:

When devising a market research study, one of the first steps is to define the questions of the study.

These questions should be very specific, so that the information gathered by the research can effectively answer them.

For example, a good question for a market research study is "what percentage of marke share have competitors gained over us in the last two months for these two products".

That question is very specific, narrowly defined, and can be easily answered by gathering the appropriate information.

7 0
3 years ago
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