Business Math (11th Edition)
Business Math (11th Edition)
11th Edition
ISBN: 9780134496436
Author: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Publisher: PEARSON
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Chapter 20.3, Problem 1-2SC
To determine

To calculate: The taxable income for a single person, adjusted gross income being $105,896, itemized deductions are $12,057 and $4,000 for her personal exemption.

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Last Chance Mine (LCM) purchased a coal deposit for $2,918,300. It estimated it would extract 18,950 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.24 million, $13 million, and $11 million for years 1 through 3, respectively. During years 1-3, LCM reported net income (loss) from the coal deposit activity in the amount of ($11,400), $550,000, and $502,500, respectively. In years 1-3, LCM extracted 19,950 tons of coal as follows: (1) Tons of Coal 18,950 Depletion (2) Basis (2)(1) Rate $2,918,300 $154.00 Tons Extracted per Year Year 1 4,500 Year 2 8,850 Year 3 6,600 Note: Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars. a. What is LCM's cost depletion for years 1, 2, and 3? Cost Depletion Year 1 Year 2 Year 3

Chapter 20 Solutions

Business Math (11th Edition)

Ch. 20.1 - Prob. 1SECh. 20.1 - Prob. 2SECh. 20.1 - Prob. 3SECh. 20.1 - Prob. 4SECh. 20.1 - Prob. 5SECh. 20.1 - Prob. 6SECh. 20.1 - Prob. 7SECh. 20.1 - Prob. 8SECh. 20.1 - Prob. 9SECh. 20.1 - Prob. 10SECh. 20.1 - Prob. 11SECh. 20.1 - Prob. 12SECh. 20.1 - Prob. 13SECh. 20.1 - Prob. 14SECh. 20.1 - Prob. 15SECh. 20.1 - Prob. 16SECh. 20.1 - Prob. 17SECh. 20.1 - Prob. 18SECh. 20.1 - Prob. 19SECh. 20.1 - Prob. 20SECh. 20.2 - Prob. 1-1SCCh. 20.2 - Prob. 1-2SCCh. 20.2 - Prob. 1-3SCCh. 20.2 - Prob. 1-4SCCh. 20.2 - Prob. 2-1SCCh. 20.2 - Prob. 2-2SCCh. 20.2 - Prob. 2-3SCCh. 20.2 - Prob. 2-4SCCh. 20.2 - Prob. 3-1SCCh. 20.2 - Prob. 3-2SCCh. 20.2 - Prob. 3-3SCCh. 20.2 - Prob. 3-4SCCh. 20.2 - Prob. 3-5SCCh. 20.2 - Prob. 3-6SCCh. 20.2 - Prob. 1SECh. 20.2 - Prob. 2SECh. 20.2 - Prob. 3SECh. 20.2 - Prob. 4SECh. 20.2 - Prob. 5SECh. 20.2 - Prob. 6SECh. 20.2 - Prob. 7SECh. 20.2 - Prob. 8SECh. 20.2 - Prob. 9SECh. 20.2 - Prob. 10SECh. 20.2 - Prob. 11SECh. 20.2 - Prob. 12SECh. 20.2 - Prob. 13SECh. 20.2 - Prob. 14SECh. 20.2 - Prob. 15SECh. 20.2 - Prob. 16SECh. 20.2 - Prob. 17SECh. 20.2 - Prob. 18SECh. 20.2 - Prob. 19SECh. 20.2 - Prob. 20SECh. 20.2 - Prob. 21SECh. 20.2 - Prob. 22SECh. 20.2 - Prob. 23SECh. 20.3 - Prob. 1-1SCCh. 20.3 - Prob. 1-2SCCh. 20.3 - Prob. 1-3SCCh. 20.3 - Prob. 1-4SCCh. 20.3 - Prob. 2-1SCCh. 20.3 - Prob. 2-2SCCh. 20.3 - Prob. 2-3SCCh. 20.3 - Prob. 2-4SCCh. 20.3 - Prob. 3-1SCCh. 20.3 - Prob. 3-2SCCh. 20.3 - Prob. 3-3SCCh. 20.3 - Prob. 3-4SCCh. 20.3 - Prob. 1SECh. 20.3 - Prob. 2SECh. 20.3 - Prob. 3SECh. 20.3 - Prob. 4SECh. 20.3 - Prob. 5SECh. 20.3 - Prob. 6SECh. 20.3 - Prob. 7SECh. 20.3 - Prob. 8SECh. 20.3 - Prob. 9SECh. 20.3 - Prob. 10SECh. 20.3 - Prob. 11SECh. 20.3 - Prob. 12SECh. 20.3 - Prob. 13SECh. 20.3 - Prob. 14SECh. 20.3 - Prob. 15SECh. 20.3 - Prob. 16SECh. 20.3 - Prob. 17SECh. 20.3 - Prob. 18SECh. 20.3 - Prob. 19SECh. 20.3 - Prob. 20SECh. 20 - Prob. 1ESCh. 20 - Prob. 2ESCh. 20 - Prob. 3ESCh. 20 - Prob. 4ESCh. 20 - Prob. 5ESCh. 20 - Prob. 6ESCh. 20 - Prob. 7ESCh. 20 - Prob. 8ESCh. 20 - Prob. 9ESCh. 20 - Prob. 10ESCh. 20 - Prob. 11ESCh. 20 - Prob. 12ESCh. 20 - Prob. 13ESCh. 20 - Prob. 14ESCh. 20 - Prob. 15ESCh. 20 - Prob. 16ESCh. 20 - Prob. 17ESCh. 20 - Prob. 18ESCh. 20 - Prob. 19ESCh. 20 - Prob. 20ESCh. 20 - Prob. 21ESCh. 20 - Prob. 22ESCh. 20 - Prob. 23ESCh. 20 - Prob. 24ESCh. 20 - Prob. 25ESCh. 20 - Prob. 26ESCh. 20 - Prob. 27ESCh. 20 - Prob. 28ESCh. 20 - Prob. 29ESCh. 20 - Prob. 30ESCh. 20 - Prob. 31ESCh. 20 - Prob. 32ESCh. 20 - Prob. 33ESCh. 20 - Prob. 34ESCh. 20 - Prob. 35ESCh. 20 - Prob. 36ESCh. 20 - Prob. 37ESCh. 20 - Prob. 38ESCh. 20 - Prob. 39ESCh. 20 - Prob. 40ESCh. 20 - Prob. 41ESCh. 20 - Prob. 42ESCh. 20 - Prob. 43ESCh. 20 - Prob. 44ESCh. 20 - Prob. 45ESCh. 20 - Prob. 46ESCh. 20 - Prob. 47ESCh. 20 - Prob. 48ESCh. 20 - Prob. 49ESCh. 20 - Prob. 50ESCh. 20 - Prob. 51ESCh. 20 - Prob. 52ESCh. 20 - Prob. 53ESCh. 20 - Prob. 54ESCh. 20 - Prob. 55ESCh. 20 - Prob. 56ESCh. 20 - Prob. 57ESCh. 20 - Prob. 58ESCh. 20 - Prob. 59ESCh. 20 - Prob. 60ESCh. 20 - Prob. 61ESCh. 20 - Prob. 62ESCh. 20 - Prob. 63ESCh. 20 - Prob. 64ESCh. 20 - Prob. 65ESCh. 20 - Prob. 66ESCh. 20 - Prob. 67ESCh. 20 - Prob. 68ESCh. 20 - Prob. 69ESCh. 20 - Prob. 70ESCh. 20 - Prob. 71ESCh. 20 - Prob. 72ESCh. 20 - Prob. 1PTCh. 20 - Prob. 2PTCh. 20 - Prob. 3PTCh. 20 - Prob. 4PTCh. 20 - Prob. 5PTCh. 20 - Prob. 6PTCh. 20 - Prob. 7PTCh. 20 - Prob. 8PTCh. 20 - Prob. 9PTCh. 20 - Prob. 10PTCh. 20 - Prob. 11PTCh. 20 - Prob. 12PTCh. 20 - Prob. 13PTCh. 20 - Prob. 14PTCh. 20 - Prob. 15PTCh. 20 - Prob. 16PTCh. 20 - Prob. 17PTCh. 20 - Prob. 18PTCh. 20 - Prob. 19PTCh. 20 - Prob. 20PTCh. 20 - Prob. 21PTCh. 20 - Prob. 22PTCh. 20 - Prob. 1CTCh. 20 - Prob. 2CTCh. 20 - Prob. 3CTCh. 20 - Prob. 4CTCh. 20 - Prob. 5CTCh. 20 - Prob. 6CTCh. 20 - Prob. 7CTCh. 20 - Prob. 8CTCh. 20 - Prob. 1CPCh. 20 - Prob. 2CPCh. 20 - Prob. 1CS1Ch. 20 - Prob. 2CS1Ch. 20 - Prob. 3CS1Ch. 20 - Prob. 4CS1Ch. 20 - Prob. 1CS2Ch. 20 - Prob. 2CS2Ch. 20 - Prob. 3CS2Ch. 20 - Prob. 4CS2
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