32.000 the year of acquisition as one-half year Mundo should record 2019 depreciation expenss of $7.680 $9,000 $9.600 $10,000 C. 18 A fixed asset with a 5-year estimated useful life is sold during the second year How would the use of the straight line method of depreciation instead of the double-declining-baiance method of depreciation affect the amount of gain or loss on the sale of the fixed asset? Gain No effect No effect Decrease Loss No effect Increase Increase d. Increase Decrease 19. Crowder Company acquired a tract of land containing an extractable naturai resource. Crowder is required by the purchase contract to restore the land to a condition suitable for recreational use after it has extracted the natural resource. Geological surveys estimate that the recoverable reserves will be 5,000,000 tons and that the land will have value of $1,000,000 after restoration. Relevant cost information follows: $9,000,000 1,500,000 Land Estimated restoration costs If Crowder maintains no inventories of extrarcted material, what should be the depletion expense per ton of extracted material? $2.10 a. $1.90 b. $1.80 $1.60 C. d.

32.000 the year of acquisition as one-half year Mundo should record 2019 depreciation expenss of $7.680 $9,000 $9.600 $10,000 C. 18 A fixed asset with a 5-year estimated useful life is sold during the second year How would the use of the straight line method of depreciation instead of the double-declining-baiance method of depreciation affect the amount of gain or loss on the sale of the fixed asset? Gain No effect No effect Decrease Loss No effect Increase Increase d. Increase Decrease 19. Crowder Company acquired a tract of land containing an extractable naturai resource. Crowder is required by the purchase contract to restore the land to a condition suitable for recreational use after it has extracted the natural resource. Geological surveys estimate that the recoverable reserves will be 5,000,000 tons and that the land will have value of $1,000,000 after restoration. Relevant cost information follows: $9,000,000 1,500,000 Land Estimated restoration costs If Crowder maintains no inventories of extrarcted material, what should be the depletion expense per ton of extracted material? $2.10 a. $1.90 b. $1.80 $1.60 C. d.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Problem 9-25 Fudge factors An oil company executive is considering investing $10.1 million in one or both of two wells: well 1 is expected to produce oil worth $3.01 million a year for 10 years; well 2 is expected to produce $2.01 million for 15 years. These are real (inflation-adjusted) cash flows. The beta for producing wells is 0.91. The market risk premium is 9%, the nominal risk-free interest rate is 7%, and expected inflation is 3%. The two wells are intended to develop a previously discovered oil field. Unfortunately there is still a 21% chance of a dry hole in each case. A dry hole means zero cash flows and a complete loss of the $10.1 million investment. Ignore taxes and make further assumptions as necessary. a. What is the correct real discount rate for cash flows from developed wells? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Real discount rate b. The oil company executive proposes to add 20 percentage points to the…
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