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Question - On Feb. 1, 2002, Miyasawa Mining Company purchased for $80 million a mine which is estimated to have 250,000 tonnes of ore and a residual value of $3 million. The cost of restoration at the end of the useful life is estimated at $8 million. During the first year, 50,000 tonnes was mined. Calculate the amount of amortization with entry that should be recorded on December 31, 2002 as well as calculate the restoration liability.
Explain the disclosure requirement on accounting policies, and identify at least two examples of the most commonly required disclosure.
How would your answer change if the cost of ordering item X were $100, the cost of carrying were $2 a week, and the POQ lot sizing technique were used?
In addition, depreciation for tax purposes exceeds accounting depreciation by $10,000. Prepare Shetland's journal entry to record 2010 taxes, assuming a tax rate of 45%
Stacy Company issued five-year 10% bonds with a face value of $10,000 on January 1, 2008. Prepare a five year table to amortize the premium
describe what liabilities value would be if assets are 50000 and owners equity is 25000 by showing the accounting
Depreciation for the year amounted to $280,000: 15% relates to sales, 20% relates to administrative facilities, compute dollar amount of the total depreciation
Jasper Company has sales on account and for cash Specifically 57% of its sales are on account and 43% are for cash. Prepare a schedule of budgeted cash receipts
Sheridan Company estimates its bad debt expense to be 6% of gross accounts receivable. Determine its bad debt expense for 2017.
on january 1 2013 wellburn corporation leased an asset from tabitha company. the asset originally cost tabitha 390000.
Account Receivable, $60000; provision for doubtful debts $11000. Calculate total assets for reporting on the balance sheet
At December 31, 2012, Destin Sports Equipment had 200,000 common shares issued and outstanding. What is Destin's 2013 basic earnings per share
Assume that the exchange qualifies as a like-kind exchange. What is his recognized gain? What is his adjusted basis for the property received
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