User Account

All Pages

How much depletion in cost of goods sold for the year

Assignment Help Financial Accounting
Reference no: EM132992559

Question 1: In Jan. 2021, Green Mining Company paid P6,300,000 for a mineral mine with detachable ore projected by geological studies to be 2,500,000 tons. After the ore is mined, the property is expected to be about P600,000 in value. The company spent P1,725,000 on development expenditures to prepare the site for ore extraction. 340,000 tons were detached and 300,000 tons were sold in 2021. The company should include how much depletion in its Cost of Goods Sold for the year-ending Dec. 31, 2021?

Reference no: EM132992559

Questions Cloud

Promoting major forthcoming sporting events : In reviewing two online brochures promoting major forthcoming sporting events, identify the strengths and the weaknesses of each brochure. If one were to develo
Explain behavior biases would still matter : Explain Behavior biases would still matter if rational arbitragers could fully exploit the mistakes of behavioural investors and Framing is one type of error?
Discuss the broad and narrow view of csr financial services : Discuss the broad and narrow view of CSR financial services and insurance industryethical theory in the. Include an assessment of these views using and discussi
How much is the depreciation expense for rainbow corporation : Straight-line depreciation is used by Rainbow Corporation for its PPE. On Jan. 1, 2021, the balances of the PPE. How much is the depreciation expense?
How much depletion in cost of goods sold for the year : Green Mining Company paid P6,300,000, The company should include how much depletion in its Cost of Goods Sold for the year-ending Dec. 31, 2021?
Calculate the second-year depreciation of the machine : White Corporation spends P87,500 to install a manufacturing, Using the double-declining-balance approach, calculate the second-year depreciation of the machine.
How much of exploration costs would remain in the company : How much of these exploration costs would remain in the company's Balance Sheet in Dec. 31, 2021, if it depleted 30% of the oil found in 2021?
How much is the depreciation expense on the machine : How much is the depreciation expense on this machine? The business paid P3,500,000 for plant equipment for its growing provincial activities on January
Application consisting of an application letter : Identify an IT or IT related position, and prepare a written application consisting of an application letter, a written response to the selection criteria

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute what is the project pi

Compute What is the project's PI? A project an initial cost of $55,000, expected net cash inflows of $15,000 per year for 10 years, and a cost of capital of 9%.

  What should be the value of the investment on the books

If the Karter company uses the economic method (equity method) to account, What should be the value of the investment on the books as of December 31, 2020?

  Estimate payables deferral period and cash conversion cycle

Estimate Payables deferral period, Cash conversion cycle, Inventory conversion period and Receivables collection period.

  3 questions please show step by step how to calculate using

please show step by step how to calculate using a hp 10bii financial calculator ltbrgt ltbrgtquestion 1 a 20-year bond

  A pro forma financial statement is a financial statement

A pro forma financial statement is a financial statement that:

  How much of the items were included in operating income

How much of these items were included in operating income? Cash collections from customers for services yet to be provided totaled $38,000.

  What was the top marginal personal income tax rates

what was the top marginal personal income tax rates in 1980? what is the top rate now? are you in favor of or opposed to the lower marginal rates? why

  Record of all entries and write disclosure

Record of all entries and write disclosure. Anthony'shas entered a lawsuit against one its former suppliers who failed to deliver goods as ordered

  Do believe should continue to serve both of the clients

You have two clients whose interest's conflict. Do you believe you should continue to serve both of these clients? Explain. You own your own accounting firm

  Should discount diamonds choose the average

March 5 Sold 170 diamonds for $800 each. Should Discount Diamonds choose the average or specific identification method of inventory cost determination

  Create cash budget for january and february and march

Create cash Budget for January February and March. All purchases are on credit and past experience shows that 90% are settled in the month of purchase

  Why did not that profit make the company worth more

SBUX made a lot of money in FYE 2016 and 2017, why is that? Also, why did balance sheet equity go down? Why didn't that profit make the company worth more?

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