Answer:
35933
$46,200
Explanation:
Depletion = amount of pounds extracted x depletion factor
depletion factor = (cost of asset - salvage value) / estimated yield
(330,000 - 22,000) / 660,00 = 0.467
2021 = 0.467 x 99,000 = $46,200
Answer:
$301,000
Explanation:
The accounting equation shows the relationship between the elements of a balance sheet which are assets liabilities and equity. This may be expressed mathematically as
Assets = Liabilities + Equity
Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.
Hence,
$310,000 = Equity + $250,000
Equity = $310,000 - $250,000
= $60,000
The net income is the difference between the total sales and total expenses
= $626,000 - $325,000
= $301,000
Answer:The average daily balance is a common accounting method that calculates interest charges by considering the balance invested or owed at the end of each day of the billing period, rather than the balance invested or owed at the end of the week, month or year.
