In 2014, Barnes Enterprises purchased an oil well for $12,000,000. It is estimated that 80,000,000 barrels can be extracted from the well. Depletion expense during 2015, when 2,000,000 barrels were extracted and sold, totaled
A) $30,000.
B) $300,000.
C) $33,333.
D) $3,333,333.
B
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Answer the following statements true (T) or false (F)
1) A business maintains a separate Accounts Receivable account for each customer in order to account for payments received from the customer and amounts still owed by the customer. 2) Because customers make payments on account throughout the period, the sum of all balances in subsidiary accounts receivable will not equal the control account balance. 3) By accepting credit and debit cards, companies are able to attract more customers. 4) When businesses accept payment by credit and debit cards, there is almost always a fee to the purchaser to cover the processing costs charged by the card issuer. 5) Sales through credit or debit cards transfer the risk of collection of receivables from the seller to the card issuer.
In the case of necessaries, the intoxicated individual is not allowed to disaffirm, but is held liable for the reasonable value of such items
Indicate whether the statement is true or false
Groupon offers online coupons for bargains at local shops and restaurants. Which of the following is a reason that rivals are limiting its growth?
A. Not many firms possess the same capability. B. There are few equivalent capabilities. C. Its core capability is easily imitated. D. Its core capability is not easily imitated.
Visionary TV Corporation bonds are currently priced at $1,088. They have a par value of $1,000 and
12 years to maturity. They pay an annual coupon rate of 6%. What is the yield to maturity on this bond? A) 5.4% B) 6.7% C) 5.0% D) 6.1%