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Question - Montana Mining Co. pays $3,756,130 for an ore deposit containing 1,440,000 tons. The company installs machinery in the mine costing $224,900, which will be abandoned when the ore is completely mined. Montana mines and sells 156,900 tons of ore during the year. Prepare the 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.
Market Efficiency Suppose you are treasurer for your church or other nonprofit organization. You are responsible for investing the organization's small.
What are property distributions? How are they taxed for the distributing corporation as well as for the shareholder
McLaughlin Inc. operates with a June 30 year-end. Identify and analyze the effect of these transactions
1 m. sands cpa collected fees of 650 not previously billed or recorded. the journal entry to record the collection
Pharoah Limited had 41,400 common shares outstanding on January 1, 2020. Calculate the weighted average number of shares
It allows the company to pay off the bond anytime after the first fifteen years, but requires that bondholders be compensated with an extra year's interest at the coupon rate if such a payoff is exercised. What is the bond's market price assuming ..
In 2014, its first year of operations, Kimble Corp. has a $800,000 net operating loss when the tax rate is 30%. What are the entries to record the tax effects
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Ignoring capital gains tax, with 400 words, discuss whether the sale of the apartment block generates ordinary income
If Corp's estimate of patent's useful life and salvage value have not changed, how much amortization expense should Corp record for the patent in 2020
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