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balandron [24]
3 years ago
8

The Oxide Mining Company acquired an iron ore deposit for $2,000,000. The company's geologist estimated the deposit to contain 1

,500,000 tons of iron ore. Extracting equipment with a 10-year service life and costing $450,000 was permanently installed in the mine. At the end of the first year, 60,000 tons had been extracted. The end-of-year journal entry to record the depreciation of the extracting equipment would require which of the following? (Assuming the rate of depreciation is proportional to the amount of natural resource removed) a.A credit to Accumulated Depreciation of $45,000 b.A credit to Accumulated Depletion of $90,000 c.A credit to Accumulated Depreciation of $18,000 d.A delay until all of the ore is extracted e.None of the above
Business
1 answer:
natta225 [31]3 years ago
4 0

Answer:

a.A credit to Accumulated Depreciation of $45,000

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,  

Depreciation = (Cost - Salvage value)/Estimated useful life

The entries for recording depreciation are

Debit Depreciation expense

Credit Accumulated depreciation

Depreciation on equipment

= $450,000/10

= $45,000

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In a portfolio of three randomly selected stocks, which of the following could NOT be true; i.e., which statement is false?
Tpy6a [65]

Answer: b. The beta of the portfolio is higher than the highest of the three betas

Explanation:

The beta of a portfolio is calculated as a weighted average of the individual betas of the individual stocks. As such, the highest individual beta will be the upper limit of the portfolios entire beta.

For instance.

3 stocks A, B and C have betas of 1, 1.3 and 2 respectively.

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The portfolio beta will be;

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Even if the stock with the highest beta had an advantage of weighing such a high figure, it it mathematically impossible for the portfolio beta to be higher than it.

5 0
3 years ago
Drag the tiles to the correct boxes to complete the pairs. Match the components of an income statement with their description.
Korolek [52]

Answer:

see below

Explanation:

<u>1. COGS</u>

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<u>2. Gross profit </u>

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The revenues must exceed the expenses for a business to realize a gross profit. Otherwise, it will be a loss.

3<u>. Operating expenses</u>

Expenses that a business incurs to carry out its daily operations. They are the indirect cost of production. Examples include insurance, administrative, and security costs.

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5 0
2 years ago
This is for you so i dont feel bad
Ivahew [28]
Ok thank you very much
7 0
3 years ago
What advantage is there for a company to offer products at prices below actual market value? Multiple choice question. It maximi
sleet_krkn [62]

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Many market have competition, despite customers want the best for their money, they still want the best various prices especially that which is a bit lower, so they know they are not spending much but also getting the best. Some organization would want to sail their market either when entering the market or when they are experiencing a low sales, they now consider reducing the price of their items, in this case, customers would consider them because they are not spending much money

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2 years ago
sadiya, who owns a dance studio, consistently reminds her employees that dance lessons are a luxury for customers, so they shoul
Kitty [74]

When Sadiya makes statements to her employees about the characteristics of dance classes, which should be informative and fun, she is explicitly stating values ​​and norms preferred by her organization.

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Learn more here:

brainly.com/question/10770331

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