User Account

All Pages

Prepare the december year-end entries

Assignment Help Accounting Basics
Reference no: EM133141477

Question - Montana Mining Company pays $4 084.610 for an ore deposit containing 1,571,000 tons. The company installs machinery in the mine costing $162,600. Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells 181,500 tons of ore during the year!

Prepare the December 31 year-end entries to record both the ore deposit depletion and the mining. machinery depreciation. Mining machinery depreciation should be in proportion to the mine's depletion.

Reference no: EM133141477

Questions Cloud

Critically evaluate the vision and strategic objectives : Critically evaluate the vision and strategic objectives of your organisation or those of an organisation of your choice - evaluate the managerial
Secret investigation and conviction of rajaratnam : Do you think the secret investigation and conviction of Rajaratnam and other people in the Galleon network will deter other fund managers
How much interest did he save by making the partial payment : Raul paid $4,500 on the note on the 120th day. How much interest did he save by making the partial payment
The mere wife : How does Headley describe motherhood and mothers? Compare the different mothers. What about fatherhood?
Prepare the december year-end entries : Prepare the December 31 year-end entries to record both the ore deposit depletion and the mining. machinery depreciation
What is the cost per equivalent whole unit : For the purpose of determining the cost of goods manufactured in April, what is the cost per equivalent whole unit
Hippa protect health care information databases : Explain how laws like HITECH and HIPPA protect health care information databases.
Determine carrying value and create amortization schedule : No entries were made in 2020 in respect to this bond. Determine the carrying value and create the amortization schedule
How much should he pay for this investment : Walt believes that he should earn 12 percent compounded annually on this investment. How much should he pay for this investment

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