User Account

All Pages

What is the amount of depletion that should be recorded

Assignment Help Accounting Basics
Reference no: EM132480564

Question - Frederick Mining Company owns a large parcel of land which costs $900,000. It is estimated to contain 2,000,000 tons of recoverable ore. It is estimated that the recovery of the ore will take 10 years and that after the ore is fully depleted the land will be sold for a market value of $150,000. In 2018, Frederick extracted and sold 125,000 tons of ore. What is the amount of depletion that should be recorded? Round total the nearest whole dollar.

Reference no: EM132480564

Questions Cloud

Part of research and development for a large corporation : You are hired on as a part of Research and Development for a large corporation to analyze why more women working increases
Premise of the three major sociological paradigms : Briefly define the main premise of the three major sociological paradigms (structural functionalism, symbolic interactionism and conflict theory)
Changing role of women and men in careers and family life : What type of problems can oc e cur as a result of the changing role of women and men in careers and family life? Use sociological perspective
Compute service revenue : At December 31, accounts receivable was $21,730, and prepaid expenses were $27,280. Compute (a) service revenue and (b) operating expenses
What is the amount of depletion that should be recorded : In 2018, Frederick extracted and sold 125,000 tons of ore. What is the amount of depletion that should be recorded
How to prepare journal entries to recordjuly transaction : Prepare journal entries to record the July transactions in the General Journal, explain how to prepare journal entries to record the July transactions
History lens enhance understanding of diversity : In what ways does looking through the history lens enhance your understanding of diversity?
What is Fredrick recognized gain : The note was executed by Relast and made payable to Fredrick in the amount of $75,000. As a result of the transfer, what is Fredrick's recognized gain
Should natural maid continue to sell only gallon-size plain : Should Natural Maid continue to sell only the gallon-size plain yogurt (sell as is) or convert the plain yogurt into individual-size portions of fruited yogurt

Reviews

Write a Review

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

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