Reference no: EM133128132
Question - On July 23 of the current year, Dakota Mining Company pays $7,161,840 for land estimated to contain 8,232,000 tons of recoverable ore. It installs and pays for machinery costing $1,070,160 on July 25. The company removes and sells 421,750 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 -
A. Record the cost of the ore mine of $7,161,840 Cash.
B. Record the cost of the ore mine of $1,070,160 Cash.
C. Record the first five months' depletion assuming the land has a net salvage value of zero after the ore is mined.
D. Record the year-end adjusting entry for the depletion expense of ore mine.
E. Record the first five months' depreciation on the machinery.
F. Record the year-end adjusting entry for the depreciation expense of the machinery.
Discuss the laws and the legal background
: Discuss the laws and the legal background, areas, implication, and consequences related to the security issues that have been found in domus system
|
Statistics canada cansim database
: Obtain data on annual inflation (annual CPI), using the Statistics Canada CANSIM database (Excel File must be submitted).
|
Why is he laughing that second time
: 1. Aylmer's assistant, Aminadab, laughs twice at the end of the story. The first time he laughs, he seems to be laughing with triumph that Georgiana's birthmark
|
What is the total profit when profit maximized
: A popcorn vendor, Popcorn for the W Inc, is selling popcorn at $6 a bag at a baseball game. Assume that Popcorn for the W Inc is in a perfectly competitive mark
|
Record the first five months depreciation on the machinery
: Dakota Mining Company pays $7,161,840 for land estimated to contain 8,232,000 tons of recoverable ore. Record the first five month depreciation on the machinery
|
Calculate maximum profits
: Your company recently developed a patent for a new drug. This is the first drug in the market to ever treat disease X. Your analysts have estimated your demand
|
Operate or shut down in the short-run
: A firm is deciding whether to operate or shut down in the short-run. They have provided you with the following information:
|
Find the capital value of a fort
: Find the capital value of a fort at a strategic location, where the annual rent is $850,000, paid in perpetuity, and the interest rate is 4% compounded continuo
|
How will this affect the shape of the efficiency locus
: Suppose the production function for commodities X and Y are identical.
|