User Account

All Pages

What is the amount of depletion that should be recorded

Assignment Help Accounting Basics
Reference no: EM132714439

Question - Frederick Mining Company owns a large parcel of land which costs $1,100,000. It is estimated to contain 1,900,000 tons of recoverable ore. It is estimated that the recovery of the ore will take 10 years and that after the ore is fully depleted the land will be sold for a market value of $150,000. In 2018, Frederick extracted and sold 135,000 tons of ore. What is the amount of depletion that should be recorded? Round total the nearest whole dollar.

Reference no: EM132714439

Questions Cloud

Discuss suggestions for integrating coso framework : The COSO framework of internal controls is practiced within companies around the world. The objectives of the COSO framework are closely related to its five.
How do describes the market with the greatest volume : Which of the following is an example of a non-recurring?What term describes the market with the greatest volume and level of activity for an asset or liability?
Give the formula for boyle law : 1. Explain and give the formula for Boyle's law and how changes in thoracic volume is related to Boyle's law.
Compute which statement incorrect regarding corporations act : Find Which statement is incorrect regarding the Corporations Act 2001? the accounting standards are deemed to be part of the Corporations Act
What is the amount of depletion that should be recorded : Frederick extracted and sold 135,000 tons of ore. What is the amount of depletion that should be recorded? Round total the nearest whole dollar
Equality and diversity in the workplace : Equality and Diversity in the Workplace - opportunity to plan and carry out a piece of original research, demonstrating the skills required for managing
Name the sections of the small intestine : 1. Name the sections of the small intestine. Briefly describe the digestive processes that occur in each.
What would be the most economically rational value : Assuming this is the best information available regarding the future of this firm, what would be the most economically rational value of the stock today
How would amazon balance sheet be impacted by the redemption : How would Amazon's balance sheet be impacted by the redemption?How would its income statement be impacted by the redemption?

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