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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Assessing the Effects of the “Clean Air” Legislation

Congress is considering legislation that would require significant reductions over a several-year period in the quantity of emissions that electric utilities will be allowed to discharge into the air. Electric utilities that generate their electricity by burning inexpensive, but relatively high-sulfur, coal will be most affected by this legislation. Some utilities plan to comply with this legislation by burning coal with a lower sulfur content. Other utilities plan to comply with this legislation by installing devices on power plant smokestacks that would filter emissions before ii is discharged into the air.

Required:

2. In what places on the financial statements of companies that mine coal do you expect to observe the effects of this legislation?

To determine

Clean act: the Act characterizes an "electric utility steam-generating unit" as "any fossil-fuel− terminated burning unit of in excess of 25 megawatts electric that serves a generator that produces electricity available to be purchased." A unit that cogenerates steam and electricity and supplies more than 33% of its potential electric yield limit and more than 25 yield to any utility power appropriation framework available to be purchased is additionally viewed as an electric utility steam-generating unit.

To discuss:

In what place on the financial statement of companies that mine coal do you expect to observe the effect of this legislation?

Explanation

The three noteworthy classifications of vitality for electricity generation are non-renewable energy sources (coal, flammable gas, and oil), atomic vitality, and sustainable power sources. Most electricity is produced with steam turbines utilizing petroleum derivatives, atomic, biomass, geothermal, and sun based warm vitality. Other significant electricity generation advancements incorporate gas turbines, hydro turbines, wind turbines, and sun powered photovoltaic.

coal was the second-biggest vitality hotspot for U...

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