Amount of depletion per ton

Assignment Help Accounting Basics
Reference no: EM13158114

Intangible development costs total $120,000. After extraction has occurred, Balcom must restore the property (estimated fair value of the obligation is $60,000), after which it can be sold for $170,000. Balcom estimates that 5,000 tons of coal can be extracted. What is the amount of depletion per ton?

Reference no: EM13158114

Questions Cloud

What happens to the nelson effort : she a reservation wage of $1,500 so that wage package is W = 1,500 + .2 Q where the CEO sets the incentive at .2 and Q = 200 e. If the CEO increases the incentive from .2 to .25, what happens to the Nelson's effort? Will profits rise or fall?
What are epigenetic marks : what are epigenetic marks? which are associated with heterochromatin? How are epigenetic marks thought to be interpreted into chromatin structure?
Department of homeland security : Imagine you are a DHS official. Take a stance on whether or not the Department of Homeland Security is well formed and suggest changes or improvements to the organization's structure.
What is the molarity of the hcn : A buffer is made by mixing HCN and KCN to give a solution whose pH is 9.49. If the KCN molarity is 0.20 M, what is the molarity of the HCN?
Amount of depletion per ton : Intangible development costs total $120,000. After extraction has occurred, Balcom must restore the property (estimated fair value of the obligation is $60,000), after which it can be sold for $170,000. Balcom estimates that 5,000 tons of coal can..
Release of claims against the company : The employee alleges the he was offered a month's severance pay in exchange for a release of claims against the company. The employee alleges he was never told why he was being fired and thinks it was because he is Irish. He claims discrimination ba..
What quantity would they choose : what quantity would they choose? If the oligopolists do not act together but instead make production decisions individually.
Inquiries of management : Additionally, discuss what you learned about planning an audit and how this was applied in the Apollo Case Study, including results of the planning procedures performed as part of your Apollo assignment. What areas or items did you note that will ..
What is meant by the term opportunity costs : What is meant by the term opportunity costs when evaluating from different projects?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Draw a cvp chart for the company

The company's annual fixed costs are $1,125,000. (1) Use this info to compute the company's (a) contribution margin, (b)contribution margin ratio, (c)break-even point in units, and (d) break even point in dollars of sales. (2) Draw a CVP chart for..

  Determining bond discount amortization

On June 1, 2009, Everly Bottle Company sold $400,000 in long-term bonds for $351,040. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10%.

  Cash realizable value of accounts receivable

What is the cash realizable value of the accounts receivable before the write-off? What is the cash realizable value of the accounts receivable after the write-off?

  Stock issuance costs and direct combination costs

How are stock issuance costs and direct combination costs treated in a business combination which is accounted for as an acquisition when the subsidiary will retain its incorporation?

  Determine cost of long-term investment in bonds

Barr purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months of $10,000. The amount to record as the cost of this long-term investment in bonds is

  Balance sheet and income statement concept

Prepare the general journal entries that should be made in 2010 and 2011 related to the above plan by Paige Candy; and also Indicate the account names, amounts, and classifications of the items related to the premium plan that would appear on the ..

  Show support for the bond payable discount by preparing

On June 1, 2002, a company purchased on the open market $20,000 of a company's non-convertible (or convertible) bonds (2% of $1,000,000 bonds outstanding) at a price of "60" ($12,000 cash) plus accrued interest.

  Describe independent auditors concept of materiality

Briefly describe independent auditors' concept of materiality. Describe some common relationships and other considerations used by auditors when assessing the dollar amount considered material. In other words, what are some common measures of mate..

  How much of loss can jon deduct on his personal income tax

On January 1, 2010, Jon purchased 50% of Waite, an S corporation, for $75,000. At the end of 2010, Waite incurred an ordinary loss of $1600. How much of the loss can Jon deduct on his personal income tax return for 2010?

  What is the amount of interest income

What is the amount of interest income that should be recognized by Jacobs in 2010, using the effective-interest method?

  Weighted-average method in the process of costing system

The Richmond Company uses the weighted-average method in its process costing system. The company has only a single processing department.

  Account for the time value of money

One drawback of the payback criterion for evaluating projects is that this method does not properly account for the time value of money. Why do you think this is a correct statement?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd