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Cnseco oil company has an account titled Oil and Gas Properties. Conseco paid $6,000,000 for oil reserves holding an estimated 500,000 barrels of oil. assume the company paid $550,000 for additional geological tests of the property and $450,000 to prepare for drilling. During the first year, Conseco removed 70,000 barrels of oil, which it sold on account for $30 per barrel. Operating expenses totaled $800,000, all paid in cash. record call of conseco's transactions, including depletion.
nguyen company began the year with owners equity of 217000. during the year nguyen received additional owner
vera corporation bases its budgets on the activity measure customers served. during september the company planned to
One of your clients was to form a new business. He spoke to his lawyer and was advised to check with CPA to determine the business form of organization.
Jose wants to cash in his winning lottery ticket. He can either receive five, $5,000 semiannual payments starting today, or he can receive a lump-sum payment now based on a 6% annual interest rate. What would be the lump-sum payment?
polaris products inc. produces snowmobile components for use with scientific applications. all direct materials used in
Calculate the annual deadweight loss to society due to drug firm's market power in Zatab. What exactly does this deadweight loss represent?
Explain why the IASB has proposed the changes, including a discussion of the advantages and disadvantages of fair value measurement.
The standard variable factory overhead rate is $5.00/machine hour. The actual variable factory overhead incurred during the period was $8,000. The variable factory overhead variance (controllable)is:
the lo tech co. just issued a dividend of 2.20 per share on its common stock. the company is expected to maintain a
simple versus compound interest for each of the following notes calculate the simple interest due at the end of the
The net income reported on the income statement for thecurrent year was $167,900. Prepare the cash flowsfrom operating activities section of the statement ofcash flows, using the indirect method.
Birch Company normally produces and sells 45,000 units of RG-6 each month. RG-6 is a small electrical relay used as a component part in the automotive industry. The selling price is $49 per unit, variable costs are $21 per unit, fixed manufacturin..
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