This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Striker Mining company paid 13,500,000 for a parcel of land, including the mining rights. In ... (Read 140 times)

bobbysung

  • Hero Member
  • *****
  • Posts: 519
on: Jun 24, 2018
Striker Mining company paid 13,500,000 for a parcel of land, including the mining rights. In addition, the company spent 1,850,000 to prepare the site for mining operations. When mining is completed, it is estimated that the residual value of the asset will be 1,000,000. Mining engineers estimate that the site contains 5,000,000 tons of coal. a. What is the average depletion cost per ton? b. If 335,000 tons were mined in the first year of operation, what is the amount of the depletion cost?

Question 2

On April 28, The Springfield Company purchased merchandise having a list price of 20,000 from Johnson Brothers. They were given a series of trade discounts of 15/10/5. The terms of the sale were 3/15 EOM. Freight charges of 600 were added to the invoice. a. What is the discount date? b. What is the amount due on the discount date?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mcabuhat

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 24, 2018
Answer to Question 1

a. 2.87
b. 961,450

Answer to Question 2

a. June 15
b. 14,698.95


bobbysung

  • Member
  • Posts: 519
Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

gcook

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Some of the fastest growing religions in America are non-Judeo-Christian religions. This photograph Some of the fastest growing religions in America are non-Judeo-Christian religions. This photograph
Land mass looks like a synapse Land mass looks like a synapse
Underground Mining Underground Mining
Placard near driver’s door, including what devices in the vehicle contain mercury. Placard near driver’s door, including what devices in the vehicle contain mercury.
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Important Land Ecoregions Important Land Ecoregions
Video: Transcription - Introns and exons

For a complete list of videos, visit our video library