1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
makvit [3.9K]
3 years ago
10

Miller Mining acquired rights to a tract of land with the intent of extracting from the land a valuable mineral. The cost of the

rights was $2,500,000 and an estimated 10,000 tons of the mineral are expected to be extracted. Assuming that 1,600 tons of the mineral are actually extracted in the first year, determine the amount of depletion expense that should be recognized for that year.
Business
1 answer:
ziro4ka [17]3 years ago
4 0

Answer:

depletion expense recognize over the first year: 400,000 dollars

Explanation:

it cost 2,500,000 the right to extract 10,000 tons

To obtain therate we divide the cost over the expected tons of materials

rate per ton:  2,500,000 / 10,000 = 250 dollars

Now we calculate the depletion based on the amount extracted on the first year:

<em>first year extractions: </em>1,600 tons

depletion expense: 1,600 tons x 250 dollars = <em>400,000</em>

<em />

You might be interested in
Required:
olga55 [171]

Answer:

Find below the variables missing from the question:

Selected sales and operating data for three divisions of different structural engineering firms are given as follows :

                                              Division A Division B Division C

Sales                               $5,800,000 $9,800,000 $8,900,000

Average operating assets $1,450,000 $4,900,000 $2,225,000

Net operating income         $284,200 $872,200 $191,350

Minimum required rate of return 18.00% 17.80% 15.00%

On the basis on return on investment Division A is preferred

On the basis of residual income Division A is also preferred

Explanation:

Return on investment is the net operating income compared to the average operating assets in the year:

Division A return on investment=$284,200/$1,450,000=19.6%

Division B return on investment=$872,200/$4,900,000=17.8%

Division C return on investment=$191,350/$2,225,000 =8.60%

Residual income=net operating income-(required rate of return*average operating assets

Division A residual income=$284,200-(18%*$1,450,000)=$23200

Division B residual income=$872,200-(17.80%*$4,900,000)=$0

Division C residual income=$191,350-(15%*$2,225,000)=$=$191,350-(15%*$2,225,000)

4 0
2 years ago
What is a good Warzone loadout. Best gets Brainliest. Explain
muminat
M4A1 is the best weapon
4 0
3 years ago
Read 2 more answers
Question 2<br>Name and describe the basic functions in a warehouse.​
maks197457 [2]

Answer:

Storage

Explanation:

a psychological process

4 0
2 years ago
Read 2 more answers
In general, it is a bad move for a company to produce more of a good or service if, by doing so,a. marginal cost exceeds margina
scoray [572]

Answer:

The correct option here is A) marginal cost exceeds marginal revenue

Explanation:

When a company is producing more goods and services, it becomes a bad move because at this point company's marginal cost starts exceeding the marginal revenue , which means with each additional units a company is producing it is losing profit on that unit, so it is better for a company to produce less and try to find that level of output where its marginal cost and revenue are equal because at that level, company would be able to make optimal profits.

7 0
3 years ago
Many people in Rhenasia are spending less as there are only few good-paying jobs in the country. Many businesses in the country
scZoUnD [109]

Answer: Economy of the country.

Explanation:

The environmental characteristics affecting businesses in Rhenasia is the negative economy of the country. The country of Rhenasia is facing a recession in their economy, this has directly led to a drop in sale of businesses across the country.

4 0
3 years ago
Other questions:
  • Karen doesn’t like driving to the local bank branch, but doesn’t think that it is secure to do financial transactions on her pho
    10·1 answer
  • A television advertisement for Chick-fil-a shows several cows eating grass in a large field. The camera zooms out to show that t
    11·1 answer
  • What is export trade​
    8·2 answers
  • Multiple Production Department Factory Overhead Rates
    9·1 answer
  • All of the following are true EXCEPT
    7·1 answer
  • A small business loan is used to pay for the costs associated with starting your own company? True or false
    11·1 answer
  • In its first year, Barsky Corporation made charitable contributions totaling $30,000. The corporation's taxable income before an
    14·1 answer
  • Trent is 25 years old and works for a company that matches his 401(k) contribution up to 5%. The interest rate for his 401(k) is
    12·1 answer
  • What piece of legislation, one of the most complex areas of federal civil law, was established in 1974 mainly to protect the emp
    8·1 answer
  • You invest $500 at 10 percent interest per annum. at the end of 2 years with simple interest you will have ____ and with compoun
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!