User Account

All Pages

Crandon company acquires an ore mine at a cost of 6300000

Assignment Help Accounting Basics
Reference no: EM13613306

Crandon Company acquires an ore mine at a cost of $6,300,000. It incurs additional costs of $500,000 to access the mine, which is estimated to hold 1,000,000 tons of ore. The estimated value of the land after the ore is removed is $900,000.

1. Prepare the entry(ies) to record the cost of the ore mine,.

2. Prepare the year-end adjusting entry if 125,000 tons of ore are mined and sold the first year.

Reference no: EM13613306

Questions Cloud

You find that the two bright fringes are 55apart on a : your friend has been given a laser for her birthday. unfortunately she did not receive a manual with it and so she
An entertainer juggles balls while doing other activities : an entertainer juggles balls while doing other activities. in one act she throws a ball vertically upward and while it
Fleury co has a 38 tax rate its total interest payment for : fleury co. has a 38 tax rate. its total interest payment for the year just ended was 32 million. what is the interest
The grains composing polycrystalline metals tend to have : the grains composing polycrystalline metals tend to have weights that follow a log-normal distribution. for a type of
Crandon company acquires an ore mine at a cost of 6300000 : crandon company acquires an ore mine at a cost of 6300000. it incurs additional costs of 500000 to access the mine
Assuming that only caso3 is produced calculate the daily : assuming that only caso3 is produced calculate the daily production rate in tonsday of a 55-solids sludge from a
A 154 wide 134 high 1400 car hits a very slick patch of ice : a 1.54 wide 1.34 high 1400 car hits a very slick patch of ice while going 20.0 . air resistance is not negligible. if
What information does calculating standard deviation : 1. what information does calculating standard deviation provide? how is the z-score related to standard deviation?2.
Ignoring taxes when will eps be identical for plan i and ii : blue stripes co. is comparing two different capital structures. plan i would result in 8500 shares of stock and 313500

Reviews

Write a Review

Accounting Basics Questions & Answers

  Allocate the costs of the administration dept on the basis

ignatius college has provided the following data to be used in its service department cost allocationsdepartmental

  Compare and contrast the rules regarding revenue

compare and contrast the rules regarding revenue recognition under ifrs versus

  What is the patient volume needed per month if small

calculating break-even. jasmine gonzales administrative director of small imaging center has been asked by the practice

  The sole owner of stantus accounting service

John Stantus, single, is the sole owner of Stantus Accounting Services, Co. He started the company, which is organized as a sole proprietorship, on February 10 of the current year. For this year, Stantus Accounting Services reported the follow..

  Amount of cash received from the sale

If $4,000,000 of 12% bonds are issued at 101, the amount of cash received from the sale is:

  If the beginning inventory is the same as the desired

beginning inventory 30000 units budgeted sales for the quarter 400000 units desired ending inventory 100000 units1.

  On september 17 2013 ziltech inc entered into an agreement

on september 17 2013 ziltech inc. entered into an agreement to sell one of its divisions that qualifies as a component

  Last year the house of orange had sales of 826650 net

last year the house of orange had sales of 826650 net operating income of 81000 and operating assets of 84000 at the

  If the company borrows 8330 to pay for the purchase on the

a company purchased merchandise inventory at a cost of 8500 with credit terms 210 net 60. if the company borrows 8330

  The corporation performs adjusting entries monthly closing

the corporation performs adjusting entries monthly. closing entries are performed annually on december 31. during

  Slagle corporation is a large manufacturing organization

slagle corporation is a large manufacturing organization. over the past several years it has obtained an important

  What is the total paid-in capital

The stockholders' equity of a balance sheet is composed of preferred $7 stock, $250,000; discount on preferred stock, $25,000; common stock, $750,000; premium on common stock, $100,000; retained earnings, $190,000; treasury stock, $80,000. What is..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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