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Problem
PC Mine purchased a platinum deposit for $3,500,000. It estimated it would extract 17,000 ounces of platinum from the deposit. PC mined the platinum and sold it reporting gross receipts of $500,000 and $8 million for years 1 and 2, respectively. During years 1 and 2, PC reported net income (loss) from the platinum deposit activity in the amount of ($100,000) and $3,800,000, respectively. In years 1 and 2, PC actually extracted 2,000 and 8,000 ounces of platinum. What is PC's depletion expense for years 1 and 2 if the applicable percentage depletion for platinum is 22 percent, rounded to the nearest whole number?
What is the current break-even point in units? If the manager raises the price, what will be the new break-even point in units?
(EPS: Simple Capital Structure) Kendall Inc. presented the following data.Net income $2,200,000Preferred stock: 50,000 shares outstanding,$100 par, 8% cumulative, not convertible 5,000,000Common stock: Shares outstanding 1/1 600,000Issued for cash, 5..
Unit Cost and Cost Assignment, Nonuniform Inputs Loran Inc. had the following equivalent units schedule and cost for its fabrication department during September
Brian purchased 500 shares of substantially identical stock for $3,000. What will be the basis of each of the four batches of new stock
Compute for each year the accounts receivable turnover. At the end of 2013, accounts receivable
Sketch an NMOS three-input NOR logic gate. - Describe its operation. - Discuss the condition under which the maximum logic 0 value is obtained.
discuss the complexity in determining the distinction between ordinary and capital assets. analyze the rationale for
annual reports rely upon silencing of injustices in order to make profit appear to be an un-problematic
If accounting were not regulated, we would not be facing the difficult problems that have arisen as a result of Enron and other corporate auditing failures. Do you agree with this statement?
marge and lisa work for simpsons interiors. marge is a designer who works with clients of simpsons on interior design
The receipt of annual interest and discount amortization. Assume effective-interest amortization is used.
the following transactions were incurred by dimasi industries during january 2010 1. issued 800000 of direct material
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