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On July 23 of the current year, Dakota Mining Co. pays $4,836,000 for land estimated to contain 7,800,000 tons of recoverable ore. It installs machinery costing $390,000 that has a 10-year life and no salvage value and is capable of mining the ore deposit in eight years. The machinery is paid for on July 25, seven days before mining operations begin. The company removes and sells 400,000 tons of ore during its first five months of operations ending on December 31. Depreciation of the machinery is in proportion to the mine's depletion as the machinery will be abandoned after the ore is mined.
xyz company has the following product costs for its line of product a direct materials 10 direct labor 8 variable
show workdecember 3120122011cash3350013000accounts
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rosemont tennis is planning for the coming year. investors would like to earn a 11 return on the companys 21610164
Why is it important to calculate the basis of each partner's interest in the partnership? Is the partner taxed on his basis in the partnership each year? Is the partner taxed on his share of the Net Income of the partnership? How are guaranteed pa..
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Calculate depreciation for each of the five years using the declining balance method at twice the straight-line rate.
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