User Account

All Pages

How are the costs applicable to the unsold units reported

Assignment Help Accounting Basics
Reference no: EM131140554

On July 1, 2010, Hurtig Inc. invested $720,000 in a mine estimated to have 800,000 tons of ore of uniform grade. During the last 6 months of 2010, 100,000 tons of ore were mined and sold. 

Instructions

(a) Prepare the journal entry to record depletion expense.

(b) Assume that the 100,000 tons of ore were mined, but only 80,000 units were sold. How are the costs applicable to the 20,000 unsold units reported?

Reference no: EM131140554

Questions Cloud

Draw the direct form flow graph implementation for filter : Redraw the flow graph selected in part (c), this time including linearized noise models representing quantization round-off error.
Why is it important that the problem be addressed : Why is it important that the problem be addressed? Who is impacted internally and externally? Why do you feel the problem hasn't already been solved?
Formulate a preemptive goal programming model : The new president has just been elected and has set the following economic goals - Formulate a preemptive goal programming model to help the president meet his goals.
What are reasons people participate in politics : What are reasons people participate in politics? The set of beliefs and values as a whole forming a person's beliefs about what government should be like is called
How are the costs applicable to the unsold units reported : Assume that the 100,000 tons of ore were mined, but only 80,000 units were sold. How are the costs applicable to the 20,000 unsold units reported?
Determine the power density spectrum of the output noise : If the products are rounded as described in part (a), the output can be represented as yˆ[n] = y[n] + f [n] where y[n] is the output owing to x[n] acting alone, and f [n] is the total output due to all the noise sources acting independently. Deter..
Determine delay for the cases : An RC circuit used to produce time delay is shown in Figure. For a step input voltage vi(t) = 2u(t) and C = 10 mF, determine Tdelay for the following cases: (a) R = 100 kΩ; and (b) R = 1 MW. Sketch the output vo(t) versus time for cases (a) and (b..
Prepare beka companys journal entries to record the sale : Beka Company owns equipment that cost $50,000 when purchased on January 1, 2007. It has been depreciated using the straight-line method based on estimated salvage value of $5,000 and an estimated useful life of 5 years.
What strategies would you use as an administrator : Identify at least two reasons why organizations fail to implement their strategic plan. What strategies would you use as an administrator to ensure your strategic plans are implemented?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Assess the key ratios used by financial analyst to evaluate

financial analyst skills please respond to the followingbased on the information presented in the e-activity recommend

  Computer associates international incthe worlds leading

computer associates international inc. the worlds leading business software company delivers the end-to-end

  No legal obligation to make the payment

Carey is a waiter at a restaurant that pays a small hourly amount plus tips. Customers are not required to tip the waiter. Carey is especially attentive and friendly, and her tips average 25% of the restaurant charges. Is Carey required to include..

  Output the values of the two dimensional array to the

using java codes make a program that creates and uses a loop to populate a one-dimensional array that holds the even

  The entry to record the payment

A business borrowed $57,177 on March 1 of the current year by signing a 30 day, 8% interest bearing note. When the note is paid on March 31, the entry to record the payment should include a

  On march 1 2011 professor credit union pcu issued 6 20 year

on march 1 2011 professor credit union pcu issued 6 20 year bond payable with maturity value of 90000.the bonds pay

  Sufficient cash is expected to be available

At December 31, 2013, Newman Engineering's liabilities include the following:

  Discuss the ethical dilemma

Discuss the ethical dilemma or explain why you do not perceive an ethical dilemma.

  Partridge co can further process product j to produce

partridge co. can further process product j to produce product d. product j is currently selling for 21 per pound and

  In accounting for a long-term construction-type contract

1. the revenue recognition principle indicates that revenue is recognized wheni. the benefits can be measured

  May co inadvertently overstates its 2009 ending inventory

may co inadvertently overstates its 2009 ending inventory by 5000 and understates 2010 inventory by 5000. which of the

  Amount of the adjusting entry for bad debt expense

Using the percentage-of-sales method, you estimate that total uncollectible accounts is $7,345. The Allowance for Doubtful Accounts prior to adjustment has a debit balance of $1,345. The Accounts Receivable balance is $55,909. The amount of the..

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