Land containing a mine having an estimated 1,000,000 tons of economically extractable ore is purchased for $375,000. after the ore deposit is removed, the land will be worth $75,000. if 100,000 tons of ore are mined and sold during the first year, the depletion cost charged to expense for the year is:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Land containing a mine having an estimated 1,000,000 tons of economically extractable ore is purchased for $375,000. after the ore deposit ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What is the amount of assets for Blue Top Taxi Company? A. $900 C. $2,000 B. $1,100 D. $2,900
Answers (1)
Hundreds of colleges serve millions of students each year. The colleges vary by location, size, cost, and educational quality, which allows students to match schools to their diverse preferences.
Answers (2)
A business is operating at 90% of capacity and is currently purchasing a part used in its manufacturing operations for $14.00 per unit. The unit cost for the business to make the part is $22.00, including fixed costs, and $10.
Answers (1)
On June 30, the board of directors of Sandals, Inc., declares a 2-for-1 stock split on its 30,000, $1 par, common shares. The market price of Sandals common stock is $35 on June 30.
Answers (1)
Which two advantages do renters have that home buyers don't have? A) Renters don't have to pay a security deposit. B) Renters are not affected by changing property prices. C) Renters don't have to pay for major repairs to the property.
Answers (1)
New Questions in Business
Which of the following is true if the volume of sales increases (within a relevant range) ? A. total fixed cost increases B. total variable cost decreases C. total variable cost increases D. total fixed cost decreases
Answers (1)
Dozen Bakery makes cupcakes and cookies. Dozen gathered the following information for the current year regarding its use of flour and butter (flour is a direct material for cupcakes and butter is a direct material for cookies) : Flour (Direct
Answers (1)
A random sample of 40 students were asked how much money they spent on entertainment in the last week. They spent an average of $28, with a standard deviation of $18. What is the 90% confidence interval for mean amount spent on entertainment?
Answers (1)
Luciana, a nonshareholder, purchases a condominium for her employer for $85,000. The fair market value of the condominium is $120,000. What is Luciana's basis in the condominium and the amount of any income as a result of this purchase?
Answers (1)
Sonny had a contract to paint the rides at an amusement park and needed a paint that would protect against extensive wear, potentially harsh weather, and rust.
Answers (1)