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photoshop1234 [79]
3 years ago
8

Perez Company acquires an ore mine at a cost of $2,940,000. It incurs additional costs of $823,200 to access the mine, which is

estimated to hold 2,100,000 tons of ore. 235,000 tons of ore are mined and sold the first year. The estimated value of the land after the ore is removed is $420,000. Calculate the depletion expense from the information given. 1.
Business
1 answer:
cluponka [151]3 years ago
7 0

Answer:

$1,500,000

Explanation:

Step 1 : Determine depletion rate

Depletion rate = $3.57

Step 2 : Depletion expense

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slamgirl [31]

Answer:

The ratio that is helpful in understanding whether the relationship between cash and marketable securities is reasonable in relation to current assets or total assets is;

Current assets/Total assets

Explanation:

Current assets represent a portion of the total assets that can be converted into cash or marketable securities quickly. A higher Current assets to total assets helps one to know the amount of the total assets that can be liquidated fairly quickly. The current assets should be able to be converted into cash or cash equivalents within a year to be deemed as a current asset. Examples of current assets are; cash, cash equivalents, stock inventories, market securities, accounts receivable, inventories and other liquid assets.

Current assets are the exact opposite of long-term assets, since the latter represents the portion of total assets that can not be easily converted in cash and cash equivalents within a year. They usually take a much longer time to convert into cash. They are; equipment, land and buildings.

The total assets include all the assets mentioned above. The summation of currents assets and long-term assets form the total assets.

5 0
3 years ago
In a statement of cash flows using the indirect method, an increase in available-for-sale securities due to an increase in their
damaskus [11]

Answer:

The correct answer is d) A deduction from net income in determining cash flows from operating activities.

Explanation:

To get net cash flow using the indirect method we must make adjustments to the net income.

It depends on the account if it is added or subtracted to net income.

In this case, an increase in available-for-sale securities due to an increase in their fair value should be reported as a deduction from net income.

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3 years ago
It is a good idea to prepare for possible layoffs by making sure ______.
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C is the answer




Hope this helps
5 0
3 years ago
Read 2 more answers
Please help or going to jump off a really high bridge
Sedbober [7]

Answer:

join pa dlet to get the answers

Explanation:

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3 years ago
What is one action an employer can take to lower wage levels?
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