Reference no: EM131533977
Question: On July 23 of the current year, Dakota Mining Co. pays $4,836,000 for land estimated to contain 7,800,000 tons of recoverable ore. It installs machinery costing $390,000 that has a 10-year life and no salvage value and is capable of mining the ore deposit in eight years. The machinery is paid for on July 25, seven days before mining operations begin. The company removes and sells 400,000 tons of ore during its first five months of operations ending on December 31. Depreciation of the machinery is in proportion to the mine's depletion as the machinery will be abandoned after the ore is mined. Required Prepare entries to record
(a) the purchase of the land,
(b) the cost and installation of machinery,
(c) the first five months' depletion assuming the land has a net salvage value of zero after the ore is mined, and
(d) the first five months' depreciation on the machinery. Analysis Component Describe both the similarities and differences in amortization, depletion, and depreciation.
Create a scatter plot for all of the us airline data
: Create a scatter plot for all of the US airline data with revenue passenger miles on the y-axis and load factor on the x-axis.
|
What is business process management
: In this writing assignment, you will explore how organizations use business process management (BPM). What is business process management (BPM)
|
Four major financial innovations take the blame
: Traditional banking business has declined in both size and profitability. Four major financial innovations take the blame. What are they?
|
Prepare journal entries to record the machine purchase
: Saturn Co. purchases a used machine for $167,000 cash on January 2 and readies it for use the next day at an $3,420 cost. On January 3, it is installed.
|
Prepare entries to record the purchase of the land
: On July 23 of the current year, Dakota Mining Co. pays $4,836,000 for land estimated to contain 7,800,000 tons of recoverable ore.
|
Describe the role of an organization technology pmo
: write a 1-2 page paper describing governance principles, standards, and practices in the IT environment
|
Determining the actual convention
: Accrued interest is determined using actual/actual convention. How much must Mark pay for the bond?
|
Weighted average cost of capital
: Nina Corp. uses no debt. The weighted average cost of capital is 7.5 percent. If the current market value of the equity is $13 million and there are no taxes.
|
Prepare entries for kirk to record payment for the office
: On July 1, 2006, Sweetman Company signed a contract to lease space in a building for 15 years. The lease contract calls for annual (prepaid) rental payments.
|