A company purchases an oil well for $400,000. It estimates that the well contains 500,000 barrels, has a ten-year life, and has no salvage value. If the company extracts and sells 40,000 barrels during the first year, how much depletion expense should be recorded?

A) $32,000
B) $40,000
C) $80,000
D) $200,000


A

Business

You might also like to view...

Red blood cells come in many "blood types" including type A, type B, type AB, type O [lacking proteins A and B], Rh positive, Rh negative [lacking Rh+], and many others. If blood is transfused, the recipient detects any new or "foreign" proteins. These blood type proteins are

A. on the outer surface of the red blood cell membrane. B. in the red blood cell nucleus. C. inside the red blood cell cytoplasm. D. in the plasma where they have been secreted by the red blood cells. E. evenly distributed throughout the cell contents and plasma.

Business

Which of the following would likely be a primary key in a purchases table?

A. Purchase_Order_Number. B. Purchase_Order_Date. C. Supplier_Number. D. Product_Description.

Business

Discuss how demand conditions within Porter's diamond framework affect national competitive advantage.

What will be an ideal response?

Business

The ____ command will assign a default role to a user

a. ALTER USER username MODIFY ROLE rolename; b. ALTER DEFAULT ROLE rolename GRANT username; c. ALTER ROLE rolename MODIFY USER username; d. ALTER USER username DEFAULT ROLE rolename;

Business