Help help help help help

Nickel Inc. purchased a tract of land as a possible future plant site in 2013. Valuable sulfur deposits were discovered on the l

Elina [12.6K]

Answer:

Debit $ 800,000 to the Asset Account.

Explanation:

With the help of successful efforts process we will find the solution of the given problem .The successful efforts process stated that,if the company are upgrading only those expenses or the cost that are involved with the discovery of oil and the gas then reserves are identified.

The successful efforts process stated that when the cost of exploration is achieved then the cost of the exploration is capitalized .

So the sulfur reserves were identified therefore $800,000 in exploration expenses would be debited to the Asset Account.

4 0

3 years ago

Hester's manufacturing software company is doing better than it ever has and just a year ago it was floundering. Prior to a year

nydimaria [60]

Permanent team structure was Hester now a part of under the new ownership.

Explanation:

Team structure relates to the makeup of a single team or a multi-team program. The organisation of teams is an important component of teamwork. The successful collaboration, teamwork, behavioural management and collective aid are the product of a correctly organised patient care team.

Permanent teams are workplace units structured like a formal organisation. The team brings together staff from all fields of work, such as the components supply and logistics for an automotive plant, concentrated on a particular task or project.

3 0

3 years ago

Upper A report about the decline of Western investment in third world countries included this: "After years of daily flights com

Ksenya-84 [330]

Answer:

True

Explanation:

The actual amount of the decrease in foreign investment is less than 100% therefore, if foreign investment fell by 100%, it would be cut in half. Apparently, a decrease of 200% means that it would be totally eliminated, and a decrease of more than 200% is impossible.The the statement does not mention the initial amount of foreign investment.

8 0

3 years ago

the federal reserve: regulates the banking system. clears all checks. prints all currency. makes loans to individuals.

Andrew [12]

The Federal reserve regulates the banking system. The American government's central bank and monetary authority is known as the Federal Reserve System.

A secure, adaptable, and stable monetary and financial system is provided by the Fed for the nation.
The 12 regional Federal Reserve Banks that make up the Federal Reserve System are each in charge of a particular part of the country.
Conducting national monetary policy, overseeing and regulating banks, preserving financial stability, and offering banking services are among the Fed's primary responsibilities.
The Fed manages the nation's money supply through the Federal Open Market Committee, which also sets monetary policy.
The Federal Reserve System's primary regulator of banks that are members is the Fed, which has broad authority to take action to promote financial stability.

Learn more about Federal Reserve System, here

brainly.com/question/3603615

#SPJ4

6 0

1 year ago

During 2018, TRC Corporation has the following inventory transactions.

Soloha48 [4]

Answer:

Results are below.

Explanation:

Giving the following information:

Jan. 1 Beginning inventory 48 $40 $1,920

Apr. 7 Purchase 128 42 5,376

Jul. 16 Purchase 198 45 8,910

Oct. 6 Purchase 108 46 4,968

For the entire year, the company sells 427 units of inventory for $58 each.

Ending inventory units= 482 - 427= 55

1)

Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the cost of the lasts units remaining in inventory.

Ending inventory= 55*46= $2,530

COGS= 48*40 + 128*42 + 198*45 + 53*46= $18,644

Revenue= 427*58= $24,766

Gross profit= 24,766 - 18,644= $6,122

2)

Under the LIFO (last-in, first-out) method, the ending inventory is calculated using the cost of the firsts units remaining in inventory.

Ending inventory= 48*40 + 7*42= $2,214

COGS= 108*46 + 198*45 + 121*42= $18,960

Revenue= 427*58= $24,766

Gross profit= 24,766 - 18,960= $5,806

3)

First, we need to calculate the weighted-average cost:

weighted-average cost= (40 + 42 + 45 + 46) / 4= $43.25

Ending inventory= 55*43.25= $2,378.75

COGS= 427*43.25= $18,467.75

Revenue= 427*58= $24,766

Gross profit= 24,766 - 18,467.75= $6,298.25

6 0

2 years ago