holds huge reserves of oil. Assume that at the end of 2017, Amplify Petroleum's cost of oil reserves totaled $ 80 comma 000 comma 000, representing 100 comma 000 comma 000 barrels of oil. Suppose Amplify Petroleum removed and sold 20 comma 000 comma 000 barrels of oil during 2018. Journalize depletion expense for 2018.

Answers

Answer 1

Answer: you could of solved it in the time u typed thai

Related Questions

Core competencies and competitive capabilities _______. (A) usually are lodged in the narrow skills and specialized work efforts of a single department, as opposed to the combined expertise and capabilities of specialists scattered across several departments. (B) most usually stem from collaborative efforts with strategic allies. (C) are usually bundles of skills and know-how that most often grow out of the combined efforts of cross-functional work groups and departments performing complementary activities at different locations in a firm's value chain. (D) tend to result in competitive advantage when they involve highly specific technologies and are grounded in a company's own deep technical expertise. (E) typically are built rapidly, usually in conjunction with important product innovations.
The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) Assets 2016 Cash and securities $2,145 Accounts receivable 8,970 Inventories 12,480 Total current assets $23,595 Net plant and equipment $15,405 Total assets $39,000 Liabilities and Equity Accounts payable $7,410 Accruals 4,290 Notes payable 5,460 Total current liabilities $17,160 Long-term bonds $7,800 Total liabilities $24,960 Common stock $5,460 Retained earnings 8,580 Total common equity $14,040 Total liabilities and equity $39,000 Income Statement (Millions of $) 2016 Net sales $58,500 Operating costs except depreciation 54,698 Depreciation 1,024 Earnings before interest and taxes (EBIT) $2,779 Less interest 829 Earnings before taxes (EBT) $1,950 Taxes 683 Net income $1,268 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of $) $443.63 Int rate on notes payable & L-T bonds 6.25%Federal plus state income tax rate 35%Year-end stock price $23.77A. What is the firm's current ratio?B. What is the firm's quick ratio?C. What is the firm's days sales outstanding? Assume a 365-day year for this calculation.D. What is the firm's total assets turnover?E. What is the firm's inventory turnover ratio?F. What is the firm's TIE?G. What is the firm's debt/assets ratio?H. What is the firm's ROA?I. What is the firm's ROE?
Star Company has a contingent liability that has a likelihood of actual occurrence that is classified as probable. Also, the amount of the liability can be reasonably estimated. Under these circumstances, Star is required to
Through self-guided internet research, the intellectually curious mind can find many examples of potential rewards in business. Add two (2) or more examples of Business Rewards to this list.
Please discuss the impact of monetary policy tightening with regards to both unemployment and inflation with respect to both the short run and long run?

Other things the same, when the price level rises, interest ratesa. rise, so firms increase investment.
b. rise, so firms decrease investment.
c. fall, so firms increase investment.
d. fall, so firms decrease investment.

Answers

B is the correct answer for this

The current (year 0) price of the shares of Company XYZ is $50. There are 1 million shares outstanding. Next year (year 1)’s dividend per share is $2, which represents a 60% payout from earnings (net income). Investors expect a ROE of 20%, and a constant growth. 1. What will be the dividend per share in year 2 and year 3?

2. What is the current market value of the firm?

3. What will be the value of the firm next year after the payout?

Answers

Answer:

1. The dividend per share in year 2 would be $2.16.

The dividend per share in year 3 would be $2.3328

2. The market value of the firm is $50 million

3. The value of the firm next year after the payout is $ 54

Explanation:

1. In order to calculate the dividend per share in year 2 and the dividend per share in year 3 we would have to make the following calculation:

dividend per share in year 2=dividend per share in year 1*(1+Growth Rate)

dividend per share in year 1=$2

Growth Rate=Retention Ratio * ROE

Growth Rate=40% * 20%

Growth Rate=8%

Therefore, dividend per share in year 2=$2*(1+8%)

dividend per share in year 2=$2.16

dividend per share in year 3=dividend per share in year 2*(1+Growth Rate)

dividend per share in year 3=$2.16(1´8%)

dividend per share in year 3=$2.3328

2. In order to calculate the current market value of the firm we would have to make the following calculation:

market value of the firm=Currect Share Price * Number of outstanding shares

According to the given data:

Currect Share Price=$50

Number of outstanding shares=1 million shares

market value of the firm=$50*1 million shares

market value of the firm=$50 million

3. In order to calculate the value of the firm next year after the payout we would have to calculate first the rate of return as follows:

value of the firm =dividend per share in year 1/rate of return-growth rate

$50* Rate of Return - 4 = $2

Rate of Return = 6 / 50

Rate of Return =12%

Therefore, value of the firm next year after the payout=dividend per share in year 2/rate of return-growth rate

value of the firm next year after the payout=$2.16/0.12-0.08

value of the firm next year after the payout=$ 54

Madden Enterprises sells two products, Silver models and Gold models. Madden Enterprises predicts that it will sell 6 comma 3006,300 Silver models and 3 comma 9003,900 Gold models in the next period. The unit contribution margins for Silver models and Gold models are $ 95$95 and $ 190$190, respectively. What is the weighted average unit contribution margin?

Answers

Answer:

The weighted average contribution margin per unit is $131.32.

Explanation:

The total combined sales of both the products equal, 6300 + 3900 = 10200

The weightage of each product in sales mix is,

Silver = 6300 / 10200

Gold = 3900 / 10200

The weighted average contribution margin can be calculated by multiplying the per unit contribution of each product with their respective weights.

Weighted average unit CM = 6300/10200 * 95 + 3900/10200 * 190

Weighted average unit CM = $131.32

A company is considering the purchase of a new machine for $49,000. Management predicts that the machine can produce sales of $16,100 each year for the next 10 years. Expenses are expected to include direct materials, direct labor, and factory overhead totaling $7,900 per year including depreciation of $4,100 per year. Income tax expense is $3,280 per year based on a tax rate of 40%. What is the payback period for the new machine?

Answers

Answer:

7.47 years

Explanation:

Payback period calculates the amount of the time it takes to recover the amount invested in a project from its cumulative cash flows.

= amount invested / cash flows

To derive cash flow: (S - C - D) x (1 - t) + D

S = sales = $16,100

C = Cost of goods sold = $7,900

D = deprecation = $4,100

T = tax = 40%

$16,100 - $7,900 - $4,100 = $4100

$4100 × 0.6 = $2460

$2460 + $4,100 = $6560

$49,000 / $6560 = 7.47 years

I hope my answer helps you

Colicchio Corporation acquired two inventory items at a lump-sum cost of $60,000. The acquisition included 3,000 units of knife X001, and 3,000 units of knife X002. X001 normally sells for $20 per unit, and X002 for $10 per unit. If Colicchio sells 1,000 units of X002, what amount of gross profit should it recognize?

Answers

Answer:

Explanation:

X001 Sales volum = 3000*$20 = $60,000

X002 Sales volum = 3000*$10 = $30,000

Total $90,000

Allocated to X002 based on sales volum is 33.33% (30,000/90,000) of the 60,000, which is $20,000

Cost per unit of X002 is $6.67 ($20,000/3,000). Sells 1000 units, $6.67*1000 = $6670.

Gross profit = Revenue $10,000 - Cost $6670 = $3330 in gross profit

Answer:

$3,333

Explanation:

Using the maximum revenue achievable as cost allocation basis, we can then proceed as follows:

Knife X001 maximum achievable revenue = $20 × 3,000 = $60,000

Knife X001 achievable maximum revenue = $10 × 3,000 = $30,000

Total maximum achievable revenue = $60,000 + $30,000

Weight of Knife X001 = 60,000/90,000 = 0.67

Weight of Knife X002 = 30,000/90,000 = 0.33

Total cost allocated to Knife X001 = 0.67 × 60,000 = $40,000

Total cost allocated to Knife X002 = 0.33 × 60,000 = $30,000

Unit cost of Knife X001 = $40,000/3,000 = $13.33

Unit cost of Knife X002 = $20,000/3,000 = $6.67

Revenue from Knife X002 1,000 units sold = $10 × 1,000 = $10,000

Cost of Knife X002 1,000 units sold = $6.67 × 1,000 = $6,667

Gross profit from Knife X002 1,000 units sold = $10,000 - $10,000 – $6,667 = $3,333.

Therefore, amount of gross profit which Colicchio Corporation should recognize is $3,333 if 1,000 units of Knife X002 is sold.

What are the products of an effectively performed job analysis?

Answers

Answer:

The explanation including its single issue is outlined in the section below on theories.

Explanation:

Analysis of work environment or profession is also widely recognized as the analysis of jobs. That would be the first starting point throughout the staffing process.

It describes items as follows:

The work to be completed.
Performance predicted.
The instruments and procedures involved.
Working or Workplace conditions, including due salaries.

Other Questions

The United States taxes the domestic and remitted foreign earnings of U.S. based MNEs no matter where the earnings occurred. This is an example of a/an ________ approach to levying taxes.

About how frequently does Hope receive a paycheck?

A budget that spends more money than the revenue coming in is known as a _______ budget. A. surplus B. federal C. balanced D. deficit

Mandalay Resorts had revenue of $2,462, income from continuing operation of $53, provision for income tax of $40, interest expense of $230, & depreciation & amortization of $216 (all in millions). Mandalay had EBIT (in millions) of: a. $539 b. $323 c. -$217 d. $1,923