User Account

All Pages

How much depletion in cost of goods sold for the year

Assignment Help Financial Accounting
Reference no: EM132992559

Question 1: In Jan. 2021, Green Mining Company paid P6,300,000 for a mineral mine with detachable ore projected by geological studies to be 2,500,000 tons. After the ore is mined, the property is expected to be about P600,000 in value. The company spent P1,725,000 on development expenditures to prepare the site for ore extraction. 340,000 tons were detached and 300,000 tons were sold in 2021. The company should include how much depletion in its Cost of Goods Sold for the year-ending Dec. 31, 2021?

Reference no: EM132992559

Questions Cloud

Promoting major forthcoming sporting events : In reviewing two online brochures promoting major forthcoming sporting events, identify the strengths and the weaknesses of each brochure. If one were to develo
Explain behavior biases would still matter : Explain Behavior biases would still matter if rational arbitragers could fully exploit the mistakes of behavioural investors and Framing is one type of error?
Discuss the broad and narrow view of csr financial services : Discuss the broad and narrow view of CSR financial services and insurance industryethical theory in the. Include an assessment of these views using and discussi
How much is the depreciation expense for rainbow corporation : Straight-line depreciation is used by Rainbow Corporation for its PPE. On Jan. 1, 2021, the balances of the PPE. How much is the depreciation expense?
How much depletion in cost of goods sold for the year : Green Mining Company paid P6,300,000, The company should include how much depletion in its Cost of Goods Sold for the year-ending Dec. 31, 2021?
Calculate the second-year depreciation of the machine : White Corporation spends P87,500 to install a manufacturing, Using the double-declining-balance approach, calculate the second-year depreciation of the machine.
How much of exploration costs would remain in the company : How much of these exploration costs would remain in the company's Balance Sheet in Dec. 31, 2021, if it depleted 30% of the oil found in 2021?
How much is the depreciation expense on the machine : How much is the depreciation expense on this machine? The business paid P3,500,000 for plant equipment for its growing provincial activities on January
Application consisting of an application letter : Identify an IT or IT related position, and prepare a written application consisting of an application letter, a written response to the selection criteria

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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