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On July 1, 2008, Hurtig Inc. invested$730,530 in a mine estimated to have 835,550 tons of ore of uniform grade. During the last 6 months of 2008, 102,790 tons of ore weremined and sold.
Prepare the journal entry to record depletion expense.
Assume that the 102,790 tons of ore weremined, but only 84,920 units were sold. How are the costs applicable to the 17,870 unsold units reported?
Samson Company is an engineering firm. Many of the employees are engineers who are working individually on different projects. Most of the design work takes place on computers. The computers are connected by a network and employees can also "surf"..
Calculate the sales revenue reported by XYZ Company in its 2004 income statement.
Lawton Company collected $8,400 in May of 2006 for 4 months of service which would take place from October of 2006 through January of 2007. The revenue reported from this transaction during 2006 would be:
macgiver brass is a brass plating firm with sales of 8 million and profits before taxes of 625000. macgiver has a loan
Peterson Company purchased machinery for $480,000 on January 1. 2009. Straight-line depreciation gas been recorded based on a $30,000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2013 at a gain of $9,000.
However, it is also projected for Project B that in years three and four there will be an additional capital outlay of $100,000 for each year. Compute the NPV, IRR, Payback for both projects and select the best project. Show your work.
A company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,145. Using effective-interest amortization, how much interest expense will be re..
Write a research essay on your views as to when each of the two approaches would be appropriate, and provide examples of where each of the approaches might be appropriate in the current economic and business environment.
State the null hypothesis. What statistical test should you use? What are the degree of freedom associated with the test statistic?
calculate the financial ratios for the assigned companys financial statements and then interpret those results against
Compute the cost of goods sold and ending inventory, assuming FIFO cost flow, LIFO cost flow, and weighted average cost flow. Use a vertical model to prepare the 2010 income statement, balance sheet, and statement of cash flows under FIFO, LIFO, w..
Speculate which regulatory changes will be the top priority for management. Then, suggest a timetable in which management should start getting ready for the change.
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