Contemporary Mathematics for Business and Consumers
7th Edition
ISBN: 9781285189758
Author: Robert Brechner, George Bergeman
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 17, Problem 14AT
(a)
To determine
To calculate: The average depletion cost per ounce of parcel of land if the Platinum touch Mining Company paid $4,000,000 for the parcel of land, and the residual value of the asset is $800,000.
(b)
To determine
To calculate: The amount of depletion cost if 1,220 ounces are mined in the first year and the Platinum touch Mining Company paid $4,000,000 for the parcel of land, and the residual value of the asset is $800,000.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
For $42,350,000, Wesco Developers purchased land which their experts believe to contain 28.5 million tons of copper ore. It cost $12,443,000 to develop the property, whose residual value is estimated as $5,985,000.
Determine the current year depletion expense (in $) if annual production amounted to 4,843,000 tons. Round depletion cost per unit to the nearest cent.
$
Chapter 17 Solutions
Contemporary Mathematics for Business and Consumers
Ch. 17.I - Wild Flour Bakery purchased a new bread oven for...Ch. 17.I - Prob. 2TIECh. 17.I - Prob. 3TIECh. 17.I - Prestige Limousine Sen ice purchased a limousine...Ch. 17.I - Prob. 1RECh. 17.I - Prob. 2RECh. 17.I - Prob. 3RECh. 17.I - Prob. 4RECh. 17.I - Prob. 5RECh. 17.I - Prob. 6RE
Ch. 17.I - Prob. 7RECh. 17.I - Prob. 8RECh. 17.I - The Huffy Laundromat purchased new washing...Ch. 17.I - Prob. 10RECh. 17.I - Prob. 11RECh. 17.I - Prob. 12RECh. 17.I - Prob. 13RECh. 17.I - Prob. 14RECh. 17.I - Prob. 15RECh. 17.I - Prob. 16RECh. 17.I - Prob. 17RECh. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Prob. 19RECh. 17.I - Prob. 20RECh. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Prob. 22RECh. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Prob. 24RECh. 17.I - Prob. 25RECh. 17.I - Prob. 26RECh. 17.I - Prob. 27RECh. 17.I - Prob. 28RECh. 17.I - Prob. 29RECh. 17.I - Prob. 30RECh. 17.I - Prob. 31RECh. 17.I - You are the accountant for Raleigh Industries, a...Ch. 17.I - BUSINESS DECISION: REPLACING AN ASSET Supreme Auto...Ch. 17.II - Prob. 5TIECh. 17.II - Prob. 6TIECh. 17.II - 1. Ink Masters Printing purchased a new printing...Ch. 17.II - Prob. 2RECh. 17.II - Prob. 3RECh. 17.II - Prob. 4RECh. 17.II - Prob. 5RECh. 17.II - All-That-Glitters Mining Company paid $49.250.000...Ch. 17.II - 7. Sequoia Timber Company purchased land...Ch. 17.II - Prob. 8RECh. 17 - Prob. 1CRCh. 17 - Prob. 2CRCh. 17 - 3. The useful _____ is the length of time an asset...Ch. 17 - Prob. 4CRCh. 17 - 5. Depreciation methods that assume an asset...Ch. 17 - Prob. 6CRCh. 17 - Prob. 7CRCh. 17 - 8. A method of accelerated depreciation that uses...Ch. 17 - Prob. 9CRCh. 17 - Prob. 10CRCh. 17 - Prob. 11CRCh. 17 - Prob. 12CRCh. 17 - Prob. 13CRCh. 17 - When natural resources are depleted, the average...Ch. 17 - Calculate the total cost, total depreciation, and...Ch. 17 - Calculate the total cost, total depreciation, and...Ch. 17 - Oxford Manufacturing. Inc., purchased new...Ch. 17 - Prob. 4ATCh. 17 - Prob. 5ATCh. 17 - Prob. 6ATCh. 17 - Prob. 7ATCh. 17 - Prob. 8ATCh. 17 - Prob. 9ATCh. 17 - Prob. 10ATCh. 17 - Prob. 11ATCh. 17 - Screen Gems Movie Theater purchased a new...Ch. 17 - Stone Age Concrete, Inc. MACRS Depreciation...Ch. 17 - Prob. 14ATCh. 17 - In January 2002. Marine Science Corporation was...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Recommended textbooks for you
- Trigonometry (MindTap Course List)TrigonometryISBN:9781337278461Author:Ron LarsonPublisher:Cengage Learning
Trigonometry (MindTap Course List)
Trigonometry
ISBN:9781337278461
Author:Ron Larson
Publisher:Cengage Learning
Use of ALGEBRA in REAL LIFE; Author: Fast and Easy Maths !;https://www.youtube.com/watch?v=9_PbWFpvkDc;License: Standard YouTube License, CC-BY
Compound Interest Formula Explained, Investment, Monthly & Continuously, Word Problems, Algebra; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=P182Abv3fOk;License: Standard YouTube License, CC-BY
Applications of Algebra (Digit, Age, Work, Clock, Mixture and Rate Problems); Author: EngineerProf PH;https://www.youtube.com/watch?v=Y8aJ_wYCS2g;License: Standard YouTube License, CC-BY