Seven Co. owns a coal mine with an estimated 1,000,000 tons of available coal. It was purchased for $300,000 and has $50,000 salvage value. During the current period, Seven mined and sold 200,000 tons of coal. Depletion expense for the period will be how much

Answers

Answer 1

Answer:

50,000

Explanation:

(300,000-50,000)/1,000x200,000=50,000

Answer 2

Seven Co. owns a coal mine is the depletion expense for the period will be how much are 50,000.

What is expense?

The term expense refers to the spend money to the particular items. As expenses are the liability of the business. The expenses are to spend, the main motive to earn profit. Expenses are to spend the company are such as raw material, transportation etc.

Determine of the Seven Co. expense for the period are:

Estimated are 1,000,000.The purchased for $300,000.The salvage value is $50,000.The sold of the tons of coal are 200,000.

The expenses of the period = ?

The expenses of the period = (300,000-50,000)/1,000,000×200,000

The expenses of the period = 50,000

As  a result, Seven Co. owns a coal mine is the depletion expense for the period will be how much are 50,000.

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Related Questions

Apart from a subsidy, how might a government change the market price of a good?​

Answers

Answer:

Governments can tax the public and giving the money to an industry, or tariffs, adding taxes to foreign products to lift prices and make domestic products more appealing. Higher taxes, fees, and greater regulations can stymie businesses or entire industries.

Imagine that you are a management coach and one of your clients, a new manager, says, “I’ve heard that about two thirds of managers fail within 18 months. I don’t want to be part of that statistic! I’ve heard that asking questions and really listening to people’s responses is key to success. But as a manager, shouldn’t I have the answers? Why should I be asking questions?” How do you respond?

CHECK ALL THAT APPLY
- Asking employees questions helps develop their critical thinking skills.
- Asking employees questions boosts their morale by helping them feel like experts, even though they’re not.
- Asking employees questions enhances their sense that the manager is the only person they should be in dialogue with, so they start talking less to each other.
- Asking employees how to solve problems empowers them to arrive at solutions to which they’re committed.

Answers

Answer:

✔ Asking employees questions helps develop their critical thinking skills.

✘ Asking employees questions boosts their morale by helping them feel like experts, even though they’re not.

✘ Asking employees questions enhances their sense that the manager is the only person they should be in dialogue with, so they start talking less to each other.

✔ Asking employees how to solve problems empowers them to arrive at solutions to which they’re committed.

Explanation:

A manager who asks questions with a sincere interest in the answers is engaging in dialogue similar to a “regular” back-and-forth conversation, and this authenticity builds trust and promotes the open exchange of ideas. Another key benefit is that having employees think about questions, rather than just telling them information or telling them what to do, engages their critical thinking skills—which are key skills for organizational success. Also, when employees are asked how to solve problems, they are likely to have more buy-in to the solution they arrive at than to a solution imposed on them. Many people are motivated by feeling as though their ideas make a positive difference.

Lower-level employees are often the experts in operational details and often have more direct contact with customers than higher-level managers, so they have tremendous expertise that can and should be tapped. Asking employees questions begins an organizational dialogue that can lead to a decentralized communication network, in which employees freely exchange ideas with one another and not just with their manager.

Planned sales for June this year are $120,000. Last year, the actual sales for June were $110,000. Determine the planned percent increase in sales for the month.

Answers

Given that the planned sales for June this year are $120,000 and that last year's actual sales for the month of June were $110,000, there is a 9.09% increase in sales for the month.

The actual increase in sales is $10,000 ($120,000 - $110,000) or ($110,000 x 1.0909 - $110,000)

Data and Calculations:

Planned sales for June, this year = $120,000

Actual sales for June,last year = $110,000

Planned percent increase in sales for June = 9.09% ($10,000/$110,000 x 100)

Thus, the planned percentage increase in sales for the month is 9.09%.

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In the Management in Action case, WeWork CEO Neumann seemed to believe that he had extraordinary abilities to accomplish the impossible and was able to use this belief to influence others. Based on what you know about power and influence, what type of influence tactic was he utilizing

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Based on the information given, the type of influence tactic was he utilizing is known as the inspirational appeals.

Inspirational appeal is a tactic that is used in stimulating the values and ideals of a group of people. Inspirational appeal is simply used to evoke emotions and arouse the enthusiasm of the people.

Since CEO Neumann seemed to believe that he had extraordinary abilities to accomplish the impossible, he is trying to inspire others and evoke their emotions, therefore, he's using inspirational appeals.

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Can a business have too many channel mem

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Answer:

oo many sales channels become difficult to manage and fewer committed resellers means you can foster stronger sales relationships.

Explanation:

hope it helps <3

3. As a department manager, you have decided to purchase two projectors to be installed in two of the conference rooms. Your brother has just started his own business in office supplies. He is able to provide you the two projectors with no installation cost. What might you want to consider? Please provide 4 answers. very urgent thanks BUSINESS FOR ETHICS.​

Answers

While the exemption of installation fee might save cost, it is imperative to consider possible issues which may arise and conflict with business and family ethics. Hence, it is important to consider the following ;

The state of the product supplied Associated warranty Family ties in case of product defect Actual cost

The initial condition of the projectors should be considered as one cannot be blinded by family ties to avoid future query.

Similarly, the warranty on the product should be considered in case of early damage or technical malfunction.

Also, it is highly important to consider family ties, as business dealings should not be mingled with family issues.

The cost of the appliance is also an important factor to consider as many sellers up their initial price, and then issue discount afterward. Hence, cost of substitutes and other suppliers should be compared.

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3. Cash and credit sales, with returned merchandise. (a) Merchandise is sold for $340 cash. (b) $30 of merchandise sold for $340 is returned for refund. (c) Merchandise is sold on account for $280. (d) $25 of merchandise sold for $280 is returned for a credit. (e) Payment is received for balance owed on merchandise sold on account.

Answers

Answer:

The payment received is 1200

A disadvantage of the free cash flow valuation method is A. The free cash flow method is not used widely in practice. B. The terminal value tends to dominate the total value in many cases. C. The free cash flow method is not rigorous. D. The projection of free cash flows depends on earnings estimates.

Answers

The main disadvantage of the valuation method is that the terminal value tends to dominate the total value in many cases.

In a free cash flow valuation, the intrinsic value equals present value of its free cash flow and thus, the net cash flow is left over for distribution to stockholders and debt-holders in each period.

So, the disadvantage of the free cash flow valuation method is that the terminal value tends to dominate the total value in many cases.

Hence, the Option B is correct.

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Alo Company produces commercial printers. One is the regular model, a basic model that is designed to copy and print in black and white. Another model, the deluxe model, is a color printer-scanner-copier. For the coming year, Alo expects to sell 90,000 regular models and 18,000 deluxe models. A segmented income statement for the two products is as follows:
Regular Model Deluxe Model Total Sales
$13,500,000 $12,240,000 $25,740,000
Less: Variable costs 8,100,000 7,344,000 15,444,000
Contribution margin $5,400,000 $4,896,000 $10,296,000
Less: Direct fixed costs 1,200,000 960,000 2,160,000
Segment margin $4,200,000 $3,936,000 $8,136,000
Less:Common fixed costs 1,500,800
Operating income $6,635,200
Required:
1. Compute the number of regular models and deluxe models that must be sold to break even. Round your answers to the nearest whole unit. Regular models units Deluxe models units
2. Using information only from the total column of the income statement, compute the sales revenue that must be generated for the company to break even. Round the contribution margin ratio to four decimal places. Use the rounded value in the subsequent computation. (Express as a decimal-based amount rather than whole percentage.) Round the amount of revenue to the nearest dollar.

Answers

1. The break-even points in sales units are computed as follows:

Break-even point (in units) = Direct fixed cost/contribution margin per unit

Regular model = 20,000 units ($1,200,000/$60)

Deluxe model = 3,529 units ($960,000/$272)

2. The Alo Company's Sales revenue to break-even, company-wide, is computed as follows:

Sales Revenue at break-even point:

= Fixed costs/Contribution margin ratio

= $3,660,800/40%

= $9,152,000

Data and Calculations:

                                         Regular Model   Deluxe Model           Total

Expected sales quantity             90,000               18,000             108,000

Sales                                    $13,500,000     $12,240,000     $25,740,000

Less: Variable costs               8,100,000         7,344,000        15,444,000

Contribution margin           $5,400,000       $4,896,000     $10,296,000

Less: Direct fixed costs         1,200,000            960,000         2,160,000

Segment margin                $4,200,000       $3,936,000       $8,136,000

Less:Common fixed costs                                                         1,500,800

Operating income                                                                  $6,635,200

Selling price per unit                  $150                   $680 ($12,240,000/18,000)

Variable costs per unit                $90                   $408 ($7,344,000/18,000)

Contribution margin                    $60                   $272 ($680 - $408)

Contribution margin ratio for the company = 40% ($10,296,000/$25,740,000 x 100)

Company total fixed costs = $3,660,800 ($2,160,000 + $1,500,800)

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Marcela heard her manager loud and clear: Marcela needed to be more careful in her work or she wouldn’t have a job. Marcela ______________ to her manager, saying, "I will definitely make fewer errors from now on."


a. selected a channel

b. decoded a message

c. gave feedback

Answers

Answer: Marcela decoded a message to her manager, saying, "I will definitely make  fewer errors from now on."

Marcela selected a channel to her manager, saying, "I will definitely make fewer errors from now on."

Marcela gave feedback to her manager, saying, "I will definitely make fewer errors from now on."

Explanation: The one that sounds better in the sentence is the correct answer the ones that sound like it doesn't fit in the sentence is incorrect.

How To Get To London Southend Airport Taxi?

Answers

Answer:

call to taxi. ....

Explanation:

.........

__________ refers to messages sent through human actions and behavior rather than through words.

✔ a. Nonverbal communication
b. Verbal communication
c. Written communication
d. E-mail
e. Oral communication

Answers

Answer:

Nonverbal Communication

On January 1, 2021, the Marjlee Company began construction of an office building to be used as its corporate headquarters. The building was completed early in 2022. Construction expenditures for 2021, which were incurred evenly throughout the year, totaled $9,600,000. Marjlee had the following debt obligations which were outstanding during all of 2021:

Construction loan, 9% $2,400,000
Long-term note, 8% 3,200,000
Long-term note, 5% 6,400,000

Required:
Calculate the amount of interest capitalized in 2021 for the building using the specific interest method.

Answers

The amount of interest capitalized in 2021 for the building using the specific interest method is $360000.

The first thing to do is to calculate the average cost of borrowing which will be:

= ($3200000 × 8%) + ($6400000 × 5%) / $9,600,000

= ($256000 + $320000) / $9600000

= $576000 / $9600000

= 0.06 = 6%

The average expenditure during the year will be:

= $9600000/2.

= $4800000

The capitalized Interest will be:

= 9% × $2400000

= $216000.

Then, the capitalized Interest for the borrowing will be:

= 6% × $2400000

= $144000

The total capitalized Interest will be:

= $216000 + $144000

= $360,000

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Tony’s favorite memories of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those days a bit as he and Suzie jogged along a nature trail and came across a wonderful piece of property for sale. He turned to Suzie and said, “I’ve always wanted to start a camp where families could get away and spend some quality time together. If we just had the money, I know this would be the perfect place.” On November 1, 2022, Great Adventures purchased the land by issuing a $400,000, 6%, 8-year installment note to the seller. Payments of $5,257 are required at the end of each month over the life of the 8-year loan. Each monthly payment of $5,257 includes both interest expense and principal payments (i.e., reduction of the loan amount). Late that night Tony exclaimed, “We now have land for our new camp; this has to be the best news ever!” Suzie said, “There’s something else I need to tell you. I’m expecting!” They decided right then, if it was a boy, they would name him Venture.
Required: 1. Complete the first three rows of an amortization schedule.
Required 2&3. Record the purchase of land with the issuance of a long-term note payable on November 1, 2022, and the first two payments on November 30, 2022, and December 31, 2022, and calculate the remaining balance of the note payable as of December 31, 2022. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) then record the balance
Required 4. The 12 monthly payments in 2023 (following year) will reduce the note's balance by an additional $40574. How would the remaining balance of the note payable be reported in the balance sheet as of December 31, 2022?

Answers

1. The completion of the first three rows of a monthly amortization schedule is as follows:

Monthly Amortization Schedule  

           Beginning            Interest         Principal       Ending

            Balance             Payment      Repayment      Balance

1      $400,000.00      $2,000.00      $3,257.00      $396,743

2      $396,743.00        $1,984.00      $3,273.00      $393,470

3      $393,470.00        $1,967.00      $3,290.00      $390,180

2&3. Journal Entries:

November 1, 2022:

Debit Land $400,000

Credit Note Payable $400,000

To record the issuance of the note payable for the purchase of the land.

November 30, 2022:

Debit Interest Expense $2,000

Debit Note Payable $3,257

Credit Cash $5,257

To record the first interest payment.

December 31, 2022:

Debit Interest Expense $1,984

Debit Note Payable $3,273

Credit Cash $5,257

To record the second interest payment.

3. The remaining balance of the note payable as of December 31, 2022, is $393,470.

4. In the balance sheet as of December 31, 2022, the remaining balance of the note payable ($393,470) will be reported under Current Liabilities of $40,574 and Long-term Liabilities of $352,896.

Data and Calculations:

Note payable = $400,000

Interest rate = 6% per annum

Maturity period = 8 years

Monthly installmental payment  (interest and principal inclusive) = $5,257

Bal;ance of the Note Payable

November 1, 2022: Note Payable                $400,000

First two repayments in Nov and Dec. 2022 = 6,530 ($3,257 + $3,273)

Balance as of December 21, 2022                393,470

Repayments from Jan. 1 to Dec. 2023            40,574

Balance as of December, 2023                    352,896

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Schweigert Paint Company, which prepares annual financial statements, is preparing adjusting entries on December 31. Analysis indicates the following:
(1.) The company is the defendant in an employee discrimination lawsuit involving $50,000 of damages. Legal counsel believes it is unlikely that the company will have to pay any damages.
(2.) December 31st is a Friday. The employees of the company have been paid on Monday, December 27th for the previous week which ended on Friday, December 24th. The company employs 30 people who earn $100 per day and 15 people who earn $160 per day. All employees work 5-day weeks.
(3.) The company is a defendant in a $500,000 product liability lawsuit. Legal counsel believes the company probably will have to pay the amount requested.
Prepare any adjusting entries necessary at the end of the year.

Answers

The Adjusting Journal Entries that Schweigert Paint Company will make in its records include the following:

Adjusting Journal Entries on December 31:

1. No Journal Entry Required

2. Debit Wages Expense $27,000

Credit Wages Payable $27,000

To accrue unpaid wages for one week to December 31.

3. Debit Product Liability Expenses $500,000

Credit Product Liability Payable $500,000

To record the product liability expense.

Data Analysis:

1. No Journal Entry Required

2. Wages Expense $27,000 Wages Payable $27,000.  ($100 x 30 x 5) + ($160 x 15 x 5)

3. Product Liability Expenses $500,000 Product Liability Payable $500,000

Thus, the adjusting entries as of December 31 do not include transaction 1.

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g At the beginning of the year, Calvin paid $5,000 for 60 shares of Eddington stock. In June, he received a $300 cash distribution with respect to the stock. His Form 1099-DIV reported that $170 was an ordinary dividend and $130 was a nontaxable return of capital. Compute Calvin's tax basis in his 60 shares at year-end.

Answers

Based on the information given Calvin's tax basis in his 60 shares at year-end is $4,870.

Using this formula

Tax basis=Beginning  cash-Nontaxable return of capital

Where:

Beginning cash=$5,000

Nontaxable return of capital=$130

Let plug in the formula

Tax basis=$5,000-$130

Tax basis=$4,870

Inconclusion Calvin's tax basis in his 60 shares at year-end is $4,870.

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Transparency refers to

Answers

Explanation:

Transparency, as used in science, engineering, business, the humanities and in other social contexts, is operating in such a way that it is easy for others to see what actions are performed. Transparency implies openness, communication, and accountability.

As a long-term investment, Fair Company purchased 20% of Midlin Company's 300,000 shares for $360,000 at the beginning of the reporting year of both companies. During the year, Midlin earned net income of $135,000 and distributed cash dividends of $0.25 per share. At year-end, the fair value of the shares is $375,000. Assume no significant influence was acquired. Record the transactions from the purchase through the end of the year, including any adjustment for the investment’s fair value, if appropriate. 2. Assume significant influence was acquired.

Required:
Record the transactions from the purchase through the end of the year, including any adjustment for the investment’s fair value, if appropriate.

Answers

The appropriate journal entry to record the transactions from the purchase through the end of the year, including any adjustment for the investment are:

1. Journal entries

1. Debit Investment in Midlin common shares $360,000

Credit Cash $360,000

(To record investment in Midlin common shares)

2. No journal entry required

3.  Debit Cash $15,000

($300,000×$0.25×20%)

Credit  Investment revenue $15,000

(To record dividend received)

4. Debit Fair value adjustment  $15,000

Credit Net unrealized holding gains and losses- OCI $15,000

($375,000-$360,000)

(To record fair value adjustment)

2. Journal entries

1. Debit Investment in Midlin common shares $360,000

Credit Cash $360,000

(To record investment in Midlin common shares)

2. Debit Investment in Midlin common shares $27,000

Credit Investment revenue $27,000

($135,000×20%)

(To record investment revenue)

3.  Debit Cash $15,000

($300,000×$0.25×20%)

Credit  Investment revenue $15,000

(To record dividend received)

4. No journal entry required

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The type of conflict that stimulates employees to work toward greater effort, cooperation, and creativity is ______________ conflict. a. concentrated b. dysfunctional c. destructive d. functional

Answers

The functional conflict is  conflict that stimulates employees to work toward greater effort etc

Functional conflict is known as a healthy and constructive disagreement that occurs between employees, groups, individuals etc.

This kind of conflict is beneficial because its stimulates employees to work toward greater effort, cooperation etc

Therefore, the Option D is correct.

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Suppose the current price of a pound of chicken is $3 per pound and the equilibrium price is $6 per pound. What takes place

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If the current price of a pound of chicken is $3 per pound and the equilibrium price is $6 per pound what takes place is: a) There is a shortage , so the price rises and quantity demanded decreases.

The current price of $3 per pound is lesser that the equilibrium price of  $6 per pound which means that their is shortage.

The shortage indicate that their is increase in demand in the market because the quantity demanded is higher than the quantity supplied.

Therefore the rise in price of goods and services will lead to decrease in the quantity demanded of such goods or product.

Inconclusion what takes place is: a) There is a shortage , so the price rises and quantity demanded decreases.

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a type of short-term loan where the borrower sells its accounts receivables to the lender at a discount to face value is called

Answers

Answer:

its called a letter of credit

Explanation:

here

Your employer is a social media company. Which situation best illustrates potential noncompliance with laws and regulations (NOCLAR), as proposed by the AICPA's Professional Ethics Executive Committee

Answers

If the social media company is in a situation that illustrates potential noncompliance with laws and regulations (NOCLAR) as proposed by the AICPA's Professional Ethics Executive Committee, a. The company's management is violating data protection laws.

The company's violation does not involve its largest vendor, contractor, or because the company's CEO has not filed his income tax returns for two years.

Thus, the management of the company may be violating data protection laws.

Question Options:

a. The company's management is violating data protection laws.

b. The company's largest vendor inadvertently violated data protection

regulations

c. The company's contractor has several violations on its record

d. The company's CEO has not filed his income tax returns for two years

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Answer:The company's management is violating data protection laws.

Explanation:If the company is violating the proposed guidelines by the AICPAS's professional ethics executive committee, such as disclosing client or employer information without consent, Thus, the management of the company is violating data protection laws.

If Intermountain Healthcare wants to facilitate horizontal communication among health care professionals and administrators at its 22 hospitals and over 300 clinics, it could promote the use of email for this purpose. What guideline would not be an appropriate part of the organization’s email policy?

a. Emails are the most efficient way to send information to many people at once. Because of a message’s potential broad impact, make sure to confirm that it is accurate and professional before hitting Send.
b. Email is the medium of choice for communicating disappointing or negative information, because using email avoids potentially heated personal interactions that may adversely impact the work environment.
c. Emails are best for short messages, so lengthy documentation of procedures or policies should be communicated another way, such as through handbooks or documents posted to the organization’s intranet.
d. Emails lack the nonverbal component of communication, so if it’s possible that one party misunderstands the other, employees should move the communication to a phone conversation or meeting.

Answers

Answer:

b.  Email is the medium of choice for communicating disappointing or negative information, because using email avoids potentially heated personal interactions that may adversely impact the work environment

The common stock of High Energy is selling for $58 per share. Currently, the firm has a total market value of $1,314,900 and a book value of $647,600. How many shares of stock will be outstanding if the firm does a stock split of 5-for-2

Answers

The number of shares of stock that will be outstanding if the firm does a stock split of 5-for-2 is $56,677.

Using this formula

Outstanding shares=(Total market value/Common stock per share)×Stock split

Let plug in the formula

Outstanding shares=($1,314,900 /$58)×5/2

Outstanding shares=$56,676.72 shares

Outstanding shares=$56,677 shares (Approximately)

Inconclusion the number of shares of stock that will be outstanding if the firm does a stock split of 5-for-2 is $56,677.

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Workplace safety measures that can help prevent disasters like the Deepwater Horizon oil spill include:

Answers

Answer:

Remote shutoff capability. Require additional back-up systems to shut down offshore wells automatically. ...

Relief well capability. At minimum, adopt Canada's "same-season relief well capability" requirement. ...

Spill penalties. Impose meaningful financial penalties for deepwater spills. ...

Energy legislation. ...

Moratorium.

Explanation:

hope this helps

is sole trader or partnership better?

Answers

Answer:

There are benefits associated with running a partnership, both when compared to a sole trader and a limited company: Shared responsibility. Having more business owners allows the financial and operational responsibility for running the business to be sharedExplanation: The benefit of a partnership over a sole proprietorship is that you'll share the responsibilities, resources, and losses. On the other hand, you also split your profits, and you might face disagreements over how to run the business. One way to mitigate conflict is to create a partnership agreement.

Banks in Ruritania have a required reserve ratio of 8% . Round all answers to one place after the decimal. What is the simple money multiplier

Answers

The simple money multiplier is 12.5.

The reserve ratio is the ratio the Central Bank of a country requires banks to keep as reserves in order to meet unforeseen circumstances. For example, if the reserve ratio is 8%, if a customers deposits $1000, banks must keep $80 as reserves.

Money multiplier is the maximum amount of money commercial banks can create.

Money multiplier = 1 / reserve ratio

1 / 8%

1 / 0.08 = 12.5

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g What are the causes of rising government budget deficits when expansionary fiscal policy is used during recessions

Answers

Answer:

reduced economic activity  and increased government borrowing

Explanation:

Expansionary fiscal policy increases the level of aggregate demand, through either increases in government spending or reductions in tax rates. Expansionary policy can do this by (1) increasing consumption by raising disposable income through cuts in personal income taxes or payroll taxes; (2) increasing investment spending by raising after-tax profits through cuts in business taxes; and (3) increasing government purchases through increased federal government spending on final goods and services and raising federal grants to state and local governments to increase their expenditures on final goods and services.

Since the features and functions of complex products like CRM or ERP are not easy to identify, ________ is a major task when implementing enterprise systems.

Answers

Since the features and functions of complex products like CRM or ERP are not easy to identify, gap identification is a major task when implementing enterprise systems.

Examples of variable costs include all the following except: A. the plant manager's salary. B. direct labor costs. C. electricity used in running production machinery. D. raw materials costs.

Answers

Examples of variable costs include all of the following except the plant manager's salary, which is an example of a fixed cost, which is an expense that does not change regardless of other related factors.

Other examples such as direct labor costs, costs of electricity used in the operation of production machines and raw material costs are variable costs, which are values that change according to the quantity of products or services sold.

Fixed costs, on the other hand, are related to costs that do not vary, that is, they remain the same regardless of the production volume, so the plant manager's salary is an example of fixed cost.

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