Montana Mining Co pays $3.776.180 for an ore deposit containing 1,532,000 tons. The company installs machinery in the mine costing $163,200, which will be abandoned when the are is completely mined. Montana mines and sells 153,000 tons of ore during the year Prepare the year-end entries to record both the ore deposit depletion and the mining machinery depreciation Mining machinery depreciation should be in proportion to the mine's depletion (Do not round intermediate calculations. Round your final answers to the nearest whole number.) Record the year-end adjusting entry for the depreciation expense of the mining machinery Note: Enter debits before credits.
Answers
The depletion and depreciation expense should be allocated to the ore sold during the year, and any remaining balance of the depletion and depreciation should be carried forward to the next year. Depreciation Expense 3,787, Accumulated Depreciation 3,787
First, we need to calculate the depletion rate per ton of ore:
Depletion rate per ton = Total cost of the deposit / Total tons of ore = $3,776,180 / 1,532,000 tons = $2.4642 per ton
Year-end entry to record ore deposit depletion:
Depletion Expense = Depletion rate per ton x Tons sold
Depletion Expense = $2.4642 x 153,000 = $376,862.60
Depletion Expense 376,863
Accumulated Depletion 376,863
Year-end entry to record mining machinery depreciation:
Depreciation Expense = Depreciation rate x Depreciable cost
Depreciable cost = Cost of machinery - Salvage value
Salvage value = $0 (abandoned when mine is depleted)
Depreciable cost = $163,200
Depreciation rate = Depletion rate per ton x Tons sold / Depreciable cost
Depreciation rate = ($2.4642 x 153,000) / $163,200 = 2.3214%
Depreciation Expense = 2.3214% x $163,200 = $3,787.45
Depreciation Expense 3,787
Accumulated Depreciation 3,787
Year-end adjusting entry for the depreciation expense of the mining machinery:
Depreciation Expense 3,787
Accumulated Depreciation 3,787
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Related Questions
this shows a lender, if you have a good track record of paying debts. A. loan B.profit planning C. SBA D. credit rating
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Answer:
The big three C's – Credit, Capacity, and Collateral – are really the drivers how lenders determine who gets a loan, how much they'll loan, and what the interest charge will be.The tiny town of Nemo has three neighborhoods located on a straight line: Neighborhood 1, Neighborhood 2, and Neighborhood 3, with Neighborhood 2 located equidistant between Neighborhood 1 and Neighborhood 3. There is one daycare center, located on Neighborhood 1. There are 10 families residing in each neighborhood, and each family has one child. Each family is willing to pay $70/day for daycare, and prefers daycare closest to its own neighborhood (though at current distances, families will purchase daycare services even if it’s two neighborhoods away). Families are indifferent between any two daycares in the same neighborhood. Suppose that daycare costs $30/day per child to provide. A new daycare center is thinking of opening in Nemo. If both daycares will keep their price at $70/day, which neighborhood should the new daycare open in?
Answers
Answer:
Neighborhood 2
Explanation:
Based on the information given if NEIGHBORHOOD 2 is located between Neighborhood 1 and Neighborhood 3 which means that in a situation where both daycares decide to keep their price at the amount of $70/day, the neighborhood that the new day care should open in is NEIGHBORHOOD 2 reason been that with NEIGHBORHOOD 2 all the families living in both Neighborhoods 2 and Neighborhoods 3 will be attracted to Neighborhoods 2 and on the other hand won't not be attracted to Neighborhood 1, for the amount of $800/day which is calculated as:
(10 Families *2) * ($70 for day care - $30 per child)
20*40= $800/day
Therefore the neighborhood that the new daycare should open in is NEIGHBORHOOD 2
SHINNING STAR BUS COMPANY (PTY) Ltd
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Answer:
is that a question?????????
_____ are those that buyers do not generally want to have to shop for until they need them.
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Unsought offerings are those that buyers do not generally want to have to shop for until they need them. Towing services and funeral services are generally considered unsought offerings.
Unsought offerings examples encompass luxury cars, pricey cameras, and high style clothing. Unsought merchandise are people who clients do no longer normally cross seeking out, or about which the common purchaser won't also be aware, due to the fact it is unsightly to think.
Towing services way the act of eliminating a Disabled automobile from a public or personal avenue vicinity by way of attaching, lifting, pulling or dragging and storing such automobiles in a secure facility or region.
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Question in attachment
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entrepreneurs and their employees both earn higher financial income than similar individuals working in wage positions. true or false ?
Answers
False, Entrepreneurs work longer hours, are more at danger of losing their income, and make 4% to 15% less money annually on average than wage earners. Additionally, their earnings increase more slowly over time.
What sets a worker apart from both other workers and business owners?Employees fulfill the duties while firm owners make plans. While a worker can concentrate on the tasks at hand day by day, a business owner must assess how well they are being done in light of the organization's long-term objectives.
Entrepreneurs put in more hours, are more likely to lose their job, and earn 4% to 15% less annually on average than employees. They also see a slower rate of earnings growth over time. Few business owners actually earn much more money than they did as employees.
What are the differences between entrepreneurship and wage employment?People select their line of job from paid employment and self-employment. Based on her degree of abilities, the individual is assigned a wage bracket as a wage worker. People invariably start their own businesses whenever the profit is higher than what an employee could earn.
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PLEASE HELP, I NEED THE ANSWER SOON!!
Drag each label to the correct location on the image. Not all labels will be used.
Identify the recommended actions for success in informational interviews.
Smile and stay positive.
Sit still and be aware of your body language.
Give the interviewer either a yes or no answer.
Take notes that you can refer to later.
Answers
Smiling and staying positive and taking notes for further reference are the essentials of a successful informational interview.
What are the essentials of an informational interview?
A set of questions asked towards building a conversation with a person having expertise and achievements in the related interests comprises an informational interview.
The two most important points to be considered while taking an informational interview are:
Staying positive and giving smile expression throughout the course of the conversation. Taking important notes so that further questions may be asked in that regard.Hence, options A and D hold true regarding the informational interview.
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Answer:
a & d
Explanation:
plato users
What consumer protection agency is known by the acronym SEC?.
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Answer:
The Securities and Exchange Commission (SEC) is a U.S. government oversight agency responsible for regulating the securities markets and protecting investors.
Securities and Exchange Commission (SEC) is the protection agency known by the acronym SEC.
In the wake of the 1929 Wall Street Crash, the United States federal government established the independent U.S. Securities and Exchange Commission. The SEC's main goal is to uphold the law against market manipulation.
To encourage ethical business practices, the disclosure of critical market information, and the prevention of fraud, the Securities and Exchange Commission regulates securities exchanges, securities brokers especially dealers, and investment advisors, including mutual funds.
The truth is that the agency has all the authority necessary to act as a regulator at its disposal – authority that is much greater than that of the SEC, which must gather convincing evidence and persuade a judge of its version of events before acting, not after.
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• In Chapter 10, read the "Reading EnergyGuide Labels" section and complete
the following questions:
1. What types of products have an energy-efficiency rating (EER)?
2. Why might a consumer want to know the estimated yearly energy costs
for operating an appliance?
Answers
The types of products have an energy-efficiency rating (EER) are:
What is an energy-efficiency rating (EER)?
The EER is the cooling capacity (in British thermal units (Btu) per hour) divided by the power input (in watts).
Why might a consumer want to know the estimated yearly energy costs for operating an appliance?
Without energy monitoring, the customer will be unable to identify inefficiencies in their company or home and efficiently correct the issue.
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Answer:
1Air conditioners, heat pumps, furnaces, and boilers
2 Having the estimated cost allows a consumer to make intelligent cost comparisons over time with different models of a product.
Explanation:
trust me
PLEASE SEND HELP ASAP
Planning for regional natural disasters at work is _______.
a.
good practice
b.
unnecessary
c.
too cautious
d.
unsafe
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
A. good practice
Explanation:
planning for these disasters can help reduce damage,injuries,even death.
Answer:
A
Explanation:
Just in case something were to happen it would be good to know where to go and what to do. It can prevent deaths and injuries if the real thing were to happen.
ll of the following are economic benefits of maintaining relationships with current customers EXCEPT: a. happy customers refer friends and colleagues. b. new customers increase profits more than current customers. c. order-processing cost are less for returning customers. d. long-time customers spend more money than new customers.
Answers
It costs more selling to new customers than old customers, therefore economic benefits of maintaining relationships with current customers will include all of the listed options EXCEPT: b. new customers increase profits more than current customers.
Customer relationship management is very key in every business as it is one very important strategy to customer retention.
When a good relationship is created and maintained with current customers, economic benefits that such business will get could include:
Satisfied customers can refer their friends and colleaguesIt saves cost when a returning customer is making new orders.Satisfied customers who have a good relationship with the business will be more willing to spend more than new customers who are still having trust issues.Thus, it costs more selling to new customers than old customers, therefore economic benefits of maintaining relationships with current customers will include all of the listed options EXCEPT: b. new customers increase profits more than current customers.
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Create a business idea
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During the year, a firm purchased $144,000 of merchandise and paid freight charges of $12,600. If the total purchases returns and allowances were $9,200 and purchases discounts were $3,300 for the year, what is the net delivered cost of purchases
Answers
The net delivered cost of purchases can be calculated by subtracting the purchases returns and allowances and purchases discounts from the total purchases and adding the freight charges.
To find the net delivered cost of purchases, we need to consider the total cost of merchandise, freight charges, purchase returns and allowances, and purchase discounts.
So, the calculation would be:
Net delivered cost of purchases = Total purchases - Purchases returns and allowances - Purchases discounts + Freight charges
Net delivered cost of purchases = $144,000 - $9,200 - $3,300 + $12,600
Net delivered cost of purchases = $144,100
Therefore, the net delivered cost of purchases for the year is $144,100.
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Place the steps to creating a budget in order:
Figure out your net income.
Make a list of fixed expenses
Make a list of variable expenses.
Adjust expenses as needed
Determine if you have enough income to cover all your expenses.
Answers
Answer:
1. Figure out your net income
2. Determine if you have enough income to cover all your expenses
3. make list of variable expense
4. make list of fixed expenses
5. adjust expense
done !
Behati bought a couch at a store that was having a "buy now pay layer" sale. She bought the couch for $800, but she doesn't have to pay anything for 60 days. In 60 days she will have to pay $800 plus $50 interest. Which type of credit did she use?
Answers
Answer: Single lump-sum credit
Explanation:
With a single lump-sum credit, a person can buy goods without having to pay the full amount.
The buyer does not have to put down a down payment and will be required to pay off the amount they owe plus interest and service charges on a certain date. Behati therefore used a Single lump-sum credit.
what would happen to a monthly payment if the intrest rate increased
Answers
Answer:Your interest rate and the monthly payment will remain the same
Explanation:If you have a fixed-rate mortgage, the rising rate will have no impact on your loan: Your interest rate and the monthly payment will remain the same.
The monthly payment would increase if the interest rate is increased.
The monthly payment is the amount a person has to pay every month over the time period of the loan to pay off the loan. Interest is the additional amount a lender has to pay along with the principal amount when they avail a loan.
A loan with a higher interest rate means that the person will have to pay back more money and hence higher monthly payments as compared to someone who has a lower rate interest rate for the same amount and for the same time period.
For example, if you borrow $200 with a 5% interest rate you will have to pay back a total of $210 and if this is over 10 months then you will have to pay $21 every month. Now say you borrow the same amount for the same time period but with a 10% interest rate, then you will have to pay back a total of $220 and this means your monthly payment will be $21. Therefore monthly payment increases with the interest rate.
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Visual research has managed to embrace the rise of social media, allowing many companies to transform themselves into appealing brands and consequently created a new type of customer transparency and honesty.A. True
B. false
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Visual research has managed to embrace the rise of social media, and consequently created a new type of customer transparency and honesty----True
Visual Research:Visual research is a qualitative research method that relies on artistic media to generate and express knowledge. These artistic media include film, photography, drawing, painting and sculpture. Artistic media provide a rich source of information with the ability to capture reality.
A visual research method (VRM) is a collection of methods that incorporate visual elements such as maps, drawings, photographs, videos, and three-dimensional objects into the research process.
Why is visual research important?Visual research is a qualitative research method that relies on artistic media to generate and express knowledge. These artistic media include film, photography, drawing, painting and sculpture. Artistic media provide a rich source of information with the ability to capture reality.
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3. Why are people who are unemployed but not looking for work not included in
the unemployment figures? (Hint: think of teenagers)
Need help due TODAY
Answers
Answer:
Because they don't keep track on it.
Explanation:
Basically they are just included in it because they don't keep track of it. Hope that helps!
The margin of safety is the difference between total revenue and total fixed costs expected level of sales and the break-even point in revenue dollars. expected profit and profit at break-even selling price and variable cost per unit.
Answers
The margin of safety refers to the difference between the actual or expected level of sales and the break-even point in revenue dollars. Therefore, the correct option is B.
It symbolizes the safety net or buffer that lies above the break-even point of a business, representing how far sales can fall before the business starts losing money. An organization's ability to withstand unexpected changes in sales volume is shown by the margin of safety, which helps determine the risk and stability of the enterprise.
This is subtracted from current or anticipated sales revenue to determine the break-even point. A higher margin of safety reflects the company's position as being more secure.
Therefore, the correct option is B.
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Your question is incomplete, most probably the complete question is:
The margin of safety is the difference between
total revenue and total fixed costs expected level of sales and the break-even point in revenue dollarsexpected profit and profit at break-even selling price and variable cost per unit.one of the largest obstacles to librarians' helping patrons is
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One of the largest obstacles to librarians' helping patrons is the digital divide.
The digital divide refers to the gap between individuals who have access to and proficiency in using digital technologies and those who do not. This divide can significantly hinder librarians' ability to assist patrons effectively, particularly in an increasingly digital and information-driven society.
The digital divide manifests in various ways. Firstly, not all individuals have access to reliable internet connections or personal computing devices. This lack of access limits their ability to engage in online research, access digital resources, or participate in online library services.
Secondly, even if individuals have access to digital technologies, they may lack the necessary digital literacy skills to navigate online resources effectively. Digital literacy encompasses the ability to find, evaluate, and use information online, as well as to understand issues related to privacy, security, and information ethics.
Additionally, language and cultural barriers can further compound the obstacles faced by librarians in helping patrons. Language barriers may impede effective communication and understanding, while cultural differences can impact information-seeking behaviors and expectations.
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What common tasks are performed by Manufacturing workers? Check all that apply.
preparing meals for factory workers
selling manufactured products
creating advertisements for products
designing products and processes
operating machinery
interpreting instructions
lifting and moving materials
Answers
Answer:
4 5 6 7
Explanation:
got it right on edge
Answer:
4. designing products and processes
5. operating machinery
6. interpreting instructions
7. lifting and moving materials
Explanation:
edge 2021 :)
stay safe and good luck <3
multiple choice question productivity in the service sector is difficult to measure because new technology adds to blank , but not necessarily the blank of the service produced. multiple choice question. cost; quantity quantity; quality quality; quantity quality; cost
Answers
Option - C : quality; quantity. Productivity in the service sector is difficult to measure because new technology adds to quality , but not necessarily the quantity of the service produced.
The ratio of resources utilised to generate products and services to their output is known as productivity. Productivity is a crucial gauge of a nation's economic health on a national scale. The higher the production, the higher the living standards for whatever level of work.
By dividing an index of output by an index of total employee hours, the industry labour productivity measurements are calculated as indexes of production per hour.
A visual representation of service industry productivity
A booming economy can produce and consume more services and goods for the same amount of labour due to increases in productivity. For individuals (workers and consumers), business leaders, and analysts, productivity is important (such as policymakers and government statisticians).
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The data show the
number of railroad crossing accidents for the 50 states
of the United States for a specific year. Construct a
histogram, frequency polygon, and ogive for the data.
Comment on the skewness of the distribution. (The data
in this exercise will be used for Exercise 14 in this
section.)
Class limits Frequency
1–43 24
44–86 17
87–129 3
130–172 4
173–215 1
216–258 0
259–301 0
302–344 1
Answers
Answer:
I hope this helps
Explanation:
216-258 0
monopolistic competition describes an industry characterized by a ___ number of firms producing ___ products with___ for firms. a. small; identical; barriers to entry b. small; similar; relatively easy entry c. large; similar; relatively easy entry d. large; identical; relatively easy entry
Answers
Monopolistic competition describes an industry characterized by a small number of firms producing similar products with relatively easy entry for firms.
This means that there are a limited number of companies operating within the industry, but each one is producing a slightly different version of the same product. There are few barriers to entry, so new firms can enter the market easily if they have a unique offering or a competitive advantage. This type of competition is different from perfect competition, where there are many firms producing identical products, and from monopoly, where there is only one dominant firm. In monopolistic competition, firms can differentiate their products through branding, advertising, or other means, which can lead to some pricing power. Overall, monopolistic competition is a common market structure in many industries, including restaurants, clothing, and personal care products.
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Explain the role of public relations in developing and maintaining a corporate image.
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By overseeing communication and relationships between an organisation and its stakeholders, public relations plays a critical part in creating and sustaining a company image.
To influence the perception, reputation, and overall image of the business, strategic communication is used. To improve the public's view of the company, public relations experts take part in activities like media relations, crisis management, community involvement, and employee communications. Public relations contributes to the development of trust, credibility, and goodwill among stakeholders by clearly articulating the company's ideals, accomplishments, and social responsibility efforts. It helps build the company's brand, draw in clients, investors, and talent while minimising reputational hazards.
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An internal request for supplies is called
Answers
Answer:
it's called a suquisition :)
What type of competition does a pizza parlor vs. an ice cream shop represent?
Answers
Answer:
Explanation:
Its an indirect competition because we know that a pizza parlor and ice cream shop belong to the same sector i.e. Food but in case of products sold we can observe that pizza is not the same product as an ice cream because one is considered as a fast food while other is mainly eaten as a dessert. If the pizza shop sold ice cream along with pizzas tooo then we might have come across a direct competition to some point.
But in this case the sector is same but the products sold are different therefore this competition can be considered as an indirect competition between the two parties.
Therefore we can conclude from the above statements that we can classify this competition as an indirect competition.
A cash flow statement can help you develop and determine budget categories.
a. True
O b. False
Answers
net cash flows provided by operating activities will be ______ when using the direct method compared to the indirect method.
Answers
According to cash flow operation analysis, the net cash flows provided by operating activities will be the same when using the direct method compared to the indirect method.
Net Cash flows are used in business management to describe the profit or loss of capital in a given period.
Typically, a positive Net Cash Flows occurs when the is a surplus of cash after paying the expenses.
Hence, in this case, it is concluded that the correct answer is "the same."
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Cash flows from operating activities often shows the net amount of cash that was received or disbursed during a given period of time. Net cash flows provided by operating activities will be the same as when using the direct method compared to the indirect method.
The direct method is often use in calculating the flow that involves deducting from cash sales.Cash flow statements is simply defined as the statement that shows the cash receipts, cash payments and net changes in cash that takes place as a result of operating, investing, and financing activities in an accounting period.
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Question 6 of 10
Which of the following skills do employers in any field expect their employees
to have?
A. Ability to use a cash register
B. Ability to lift at least 30 pounds
C. Ability to use word processing software
D. Ability to provide a healthy work environment
SUBMIT
Answers
Answer:
Ability to provide a healthy work environment
Explanation:
All the other answers comes with training and is dependant upon the role