User Account

All Pages

What is the total capitalized cost of the mine

Assignment Help Accounting Basics
Reference no: EM132736981

Questions -

Q1. Zooey's Catering purchased a new commercial stove for $8,000 on August 1, 2019. The company uses the double-declining-balance method to depreciate its fixed assets. Partial-year depreciation is calculated based on the number of months the asset is in service. The estimated useful life of the stove is 5 years and the residual value is $2,000.

What is depreciation expense for 2019?

A. $3,200.

B. $1,600.

C. $ $1,333.

D. $2,400.

E. None of the answers are correct.

Q2. The capitalized cost of equipment excludes:

A. Purchase Price.

B. None of the answers are correct.

C. Annual Maintenance.

D. Installation.

E. Shipping.

Q3. Brazell Corporation mines minerals out of the ground. They purchased rights to explore land in Montana which cost $1,200,000. Exploration and development costs were $1,150,000. After mining the minerals, Brazell has a legal obligation to restore the land to its original state. The cost of this restoration is estimated to be $3,000,000, and the present value of this restoration cost using the credit-adjusted risk free interest rate is $2,381,490. What is the total capitalized cost of the mine?

A. $2,350,000

B. None of the answers are correct.

C. $5,350,000

D. $7,731,490

E. $4,731,490

Reference no: EM132736981

Questions Cloud

Describe the characteristics of environment : Describe the characteristics of the environment (political, economic, and social) that affected the implementation of the policy.
Compare the commentary they are providing : You are going to look up a current event on multiple platforms to compare the commentary they are providing.
The advent and sustainment of covid-19 virus : There have been a lot of challenges that this nation has faced in the many months with the advent and sustainment of the COVID-19 Virus
Journalize the transactions using perpetual inventory system : May 15 Received $299 refund for return of poor-quality merchandise from supplier on cash purchase. Journalize the transactions using perpetual inventory system
What is the total capitalized cost of the mine : The present value of this restoration cost using the credit-adjusted risk free interest rate is $2,381,490. What is the total capitalized cost of the mine
What was New England cash balance at the end of the year : New England Co. had net cash provided by operating activities of $351,000; What was New England's cash balance at the end of the year
Prepare income statement and balance sheet : Sold to Business Inn 20 sacks "white rice" at P1,550 per sack, cash. Paid CLC Trucking Services delivery cost for P8,500. Prepare income statement
Find the amount of compensation expense Oriole should record : The market price of the common stock on that date was $21 per share and the option price was $20. Find the amount of compensation expense Oriole should record
Compute the Residual Income : The following information pertains to Q Company's Gold Division for the current year; Sales P310,000. Compute the Residual Income

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