Exhibit 11-04 Kieso Company purchased a tract of land for $4,500,000 in anticipation of extracting 1,425,000 tons of ore. The residual value of the land is expected to be $480,000. The company mines 125,000 tons of ore in the first year. ? Refer to Exhibit 11-04, what amount of depletion was recorded in that first year?
A) $395,000
B) $352,500
C) $437,500
D) $375,000
B
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During 2010, Heckart Corporation had sales of $250,000, net income of $25,000, average total assets of $350,000, dividend payments of $17,500, net cash flows from operating activities of $37,500, purchases of plant assets of $37,500, and sales of plant assets of $45,000 . Cash flow yield equals (Round amounts to one decimal place)
a. 2.1 times. b. 1.5 times. c. 3.0 times. d. 1.9 times.
The only acceptable way to divide words at the end of a line is ________
A) to let the computer decide B) before the last three letters C) between syllables D) after the first three letters
The retirement of a general partner does not dissolve a limited partnership
Indicate whether the statement is true or false
Revenue can be described as which of the following?
a. all the money that a company has to work with b. the money from loans, sales, and contributions c. money gained from the sale of goods or services d. money gained from sales minus the cost of creating the goods