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In 2007, Bauxite Mining Company purchased a bauxite mine for$9,000,000. At the time of purchase, Bauxite estimated that themine contained 500,000 tons of bauxite. Bauxite mined and sold40,000 tons in 2007 and 85,000 tons in 2008.
a.What is the depletion rate per ton?
b.What amount of depletion should be reported 2007 and 2008?
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Hill Corp. had 600,000 shares of common stock outstanding on January 1, issued 900,000 shares on July 1, and had income applicable to common stock of $1,050,000 for the year ending December 31, 2010. Earnings per share of common stock for 2010 woul..
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calculate the gross profit percentage and the net income percentage for the income statement of harvey company round to
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