User Account

All Pages

Estimate what amount of depletion that should be recorded

Assignment Help Accounting Basics
Reference no: EM132686731

Problem 1: Frederick Mining Company owns a large parcel of land which costs $850,000. It is estimated to contain 1,500,000 tons of recoverable ore. It is estimated that the recovery of the ore will take 10 years and that after the ore is fully depleted the land will be sold for a market value of $100,000. In 2018, Frederick extracted and sold 105,000 tons of ore. What is the amount of depletion that should be recorded? Round total the nearest whole dollar.

Reference no: EM132686731

Questions Cloud

How much should be recorded as goodwill for the transaction : Compute how much should be recorded as Goodwill for the transaction? Annapolis had assets & liabilities appraised at the time of the sale
Identify three professional techniques and strategies : Identify three professional techniques, strategies, or ideas that you can use to develop your understanding of various theories in order to better understand.
Find how much is the annual amortization expense for : Find how much is the annual amortization expense for 2019? Adelphi Company expects to use the patent for 9 years after which time it will be worthless.
Describe various stages employed to implement system : Do you agree with the various stages employed to implement the system? Could this approach be improved? if so, what improvements would you recommend?
Estimate what amount of depletion that should be recorded : Estimate what is the amount of depletion that should be recorded? Frederick Mining Company owns a large parcel of land which costs $850,000.
What is your opinion of bloomingdales learning approach : What is your opinion of Bloomingdales learning approach? What elements do you think motivated employees to learn more about safety on the job?
What were the challenges you faced in pursuing ethical means : Give an autoethnographic vignette reflecting on when you have encountered an 'ethical dilemma' (Linehan and O'Brien, 2017) at work or elsewhere if you do not.
How much do need to put away in present value dollars : How much do they need to put away in present value dollars to have $25m when the deferred compensation obligation comes due?
How much should recorded on december for gain or loss : It was sold for $3,800 cash. Using this information, how much should be recorded on December 31 for the Gain or (Loss)? Round to whole dollars

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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