Crandon company acquires an ore mine at a cost of 6300000

Assignment Help Accounting Basics

Reference no: EM13613306

Crandon Company acquires an ore mine at a cost of $6,300,000. It incurs additional costs of $500,000 to access the mine, which is estimated to hold 1,000,000 tons of ore. The estimated value of the land after the ore is removed is $900,000.

1. Prepare the entry(ies) to record the cost of the ore mine,.

2. Prepare the year-end adjusting entry if 125,000 tons of ore are mined and sold the first year.

Reference no: EM13613306

Questions Cloud

You find that the two bright fringes are 55apart on a : your friend has been given a laser for her birthday. unfortunately she did not receive a manual with it and so she

An entertainer juggles balls while doing other activities : an entertainer juggles balls while doing other activities. in one act she throws a ball vertically upward and while it

Fleury co has a 38 tax rate its total interest payment for : fleury co. has a 38 tax rate. its total interest payment for the year just ended was 32 million. what is the interest

The grains composing polycrystalline metals tend to have : the grains composing polycrystalline metals tend to have weights that follow a log-normal distribution. for a type of

Crandon company acquires an ore mine at a cost of 6300000 : crandon company acquires an ore mine at a cost of 6300000. it incurs additional costs of 500000 to access the mine

Assuming that only caso3 is produced calculate the daily : assuming that only caso3 is produced calculate the daily production rate in tonsday of a 55-solids sludge from a

A 154 wide 134 high 1400 car hits a very slick patch of ice : a 1.54 wide 1.34 high 1400 car hits a very slick patch of ice while going 20.0 . air resistance is not negligible. if

What information does calculating standard deviation : 1. what information does calculating standard deviation provide? how is the z-score related to standard deviation?2.

Ignoring taxes when will eps be identical for plan i and ii : blue stripes co. is comparing two different capital structures. plan i would result in 8500 shares of stock and 313500

Reviews

Write a Review

Required(*) Message

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

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

User Account

All Pages