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Question - On July 1, 2020, FREESIA Company purchased the rights to a mine for 13,200,000, of which 1,200,000 was allocable to the land. Estimated reserves were 1,500,000 tons. The entity expects to extract and sell 25,000 tons per month. The entity purchased mining equipment on July 1, 2020 for 9,500,000. The mining equipment had a useful life of eight years. However, after all the resources are removed, the equipment will be of no use and will be sold for 500,000. What is the depreciation for 2020?
Collecting information to establish the client's goals and objectives. Which of the following is NOT good practice while designing questions for this instrument
The new patent will protect the value of the old one only for a 4 year period. Illustrate what are the adjusting journal entries
Ling Company accepted from a customer P5,000,000 face amount, 6-month, What is the interest expense to be recognized on the date of discounting?
For each of the four scenarios below provide an outline of the key audit issue. Further describe the effect each of the above scenarios has on auditor's report
Bravo wants to have a FY 2016 operating income of $40,000. Determine the number of units of Widgets that Bravo must sell in FY 2016 to meet this goal.
Prepare the BVCR and pre-acquisition worksheet entries ONLY at 1 July 2011 - Prepare the consolidation worksheet entries (BCVR, pre-acquisition and intra-group adjustment entries) at 30 June 2016.
How do you differentiate systematic risk from unsystematic risk? How do you compute this measure of risk? Provide the suitable example.
Maintain a target cash balance of $30,000 at the end of every month. Construct a monthly cash budget for the company from October till December.
Gates Inc. manufactures rubber hoses for automobile engines. There are three products to consider: Assume that all fixed costs given above are common fixed costs. Management is considering eliminating the Lower Radiator Hose product line, since it is..
Before you effect his request, what should you do? Please identify and apply Guidelines, Procedures, Legislation and Codes of Practice relevant to the financial
What the new amortizing payment after the prepayment (in dollars) is? You ae going to form a 4-tranche CMO from a pool of mortgages.
Calculate the monthly payment amount if the mortgage was renewed for another 5 years at 3.12% compounded semi-annually?
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